The Restaurant Group loses second CFO in 12 months

Chiquito Ipswich

The Restaurant Group (TRG) is searching for a new CFO for the second time in less than a year after confirming that Barry Nightingale has left the business with immediate effect.

The Chiquito and Frankie & Benny’s owner told the stock exchange that it was in the process of trying to find a replacement and would update the market in due course.

Chairman, Debbie Hewitt, said: “On behalf of the board, I would like to thank Barry for the valuable contribution that he has made over the past year, as we began the company’s turnaround process, which continues to progress well.”

Back in March, TRG said it was preparing for a “transitional” year ahead after revealing that like-for-like sales fell 4% to £710.7m. It has also implemented a strategy review across all its brands.

Nightingale only joined the business in June 2016 after moving across from Monarch Airlines, where he played a considerable role in the turnaround of the business. Prior to that he worked for leisure giant Betfred, where he led the successful acquisition and integration of Tote.

As well as accountability for the finance function at TRG, he was in charge of IT, procurement and property.

The company will provide its next trading update on 26 May 2017, the date of the its 2017 AGM.

The Restaurant Group operates 488 restaurants and pub restaurants throughout the UK. Its principal trading brands are Frankie & Benny’s, Chiquito, Coast to Coast and Brunning & Price. It also operates a multi-brand concessions business, which trades principally in UK airports.

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