THE OWNER of chain restaurants including Frankie & Benny’s, Wagamama and Chiquito has said it is “accelerating” closure plans, to shut up to 90 restaurants by the end of next year.

The Restaurant Group, which also owns Coast to Coast, announced today that is “accelerating the reduction of its estate” to reach 260 sites by 2021.

The group said that at least 31 of its sites will not see their contract renewed, with the number potentially rising depending on discussions with landlords.

It added that it also expects to dispose of up to 35 further sites, sell another 12 freehold sites, and plans to convert up to 12 current leisure restaurants into its more profitable Wagamama brand.

There is a Frankie and Benny’s in the Water Gardens in Harlow and a Chiquito on Edinburgh Way however, the owners have not specified which ones will be closing.

Andy Hornby, chief executive, said the decision had been made in response to the decline in the casual dining sector.

He said: “I am acutely aware of the challenges facing our leisure business and the wider casual dining sector.

“Following an extensive review we have defined three clear strategic priorities for the next two years: Grow our Wagamama, concessions and pubs businesses; rationalise our leisure business; and accelerate our deleveraging profile.”

The closure plan comes amid a tough period for casual dining chains, with rivals such as Jamie’s Italian collapsing over the past year.

During the announcement TRG also reported like-for-like sales growth of 2.7% for the year to December.

The group saw total sales soar 56.4% to £1.07 billion as it was buoyed by its £559 million acquisition of Wagamama in October 2018.

It said Wagamama continues to drive growth in the business, with the pan-Asian chain reporting an 8.5% increase in like-for-like sales over the period.