CHIQUITO is closing several branches within weeks and the one closest to you might be bringing the shutters down for good.
The Tex-Mex restaurant chain is closing in four locations before the end of May.
AlamyChiquito is closing four restaurants before the end of the month[/caption]
The Restaurant Group (TRG), which owns Chiquito expects to save £5million a year by closing dozens of loss-making restaurants in its portfolio.
It comes after the company said in March that it would close 35 of its Frankie and Benny’s and Chiquito restaurants in order to boost profits.
But the group confirmed yesterday, that it had now sped up these plans and 23 sites are due to shut by the end of May – some of which are operated under the Chiquito brand.
The four Chiquito restaurants set to close by the end of the month are located in:
LeedsLentonPeterborough – Pavilions WestRochester
The Restaurant Group had previously closed hundreds of its restaurants as a result of the coronavirus pandemic.
At least 61 Chiquito restaurants were closed in 2020, with the loss of around 1,500 jobs.
TRG operates 22 Chiquito restaurants right now, but this will drop to 18 in June.
The Tex-Mex chain was first established in 1989 and at its height operated 68 restaurants.
TRG is also closing 18 Frankie and Benny’s restaurants this month in
AberdeenBirmingham – PlazaBlackpoolCarmarthenChesterfieldEastleighExeter – Marsh BartonFelthamLeedsLentonLivingstonNorwich – RiversidePeterboroughPeterborough – Pavilions WestStreet – Clarks VillageTamworthTaplowTunbridge Wells
A single Firejacks located in Basildon will also close its doors to customers by the end of the month.
Around 12 pubs and restaurants have closed every single day since March 2022, according to consumer research brands CGA by NIQ and AlixPartners.
But shares in TRG, which also owns the Wagamama brand, jumped on Tuesday morning after it hailed “good progress” on recent cost-cutting efforts.
TRG revealed that like-for-like sales grew by 2% at Wagamama over the first quarter of 2023, with a 5% rise for its pub arm and 37% growth across its concessions, amid a recovery in airport passenger numbers.
Meanwhile, Wagamama sales grew 9% over the four weeks to April 30, while the sales decline at its leisure sites slowed to 1%.
The group added that “favourable” property market conditions are creating further opportunities for new Wagamama restaurants on good rent terms.
TRG plans to accelerate its opening plans for the pan-Asian chain, with up to eight sites due to open next year, from previous plans for five sites.