Two restaurant chains have been sold in a move that will affect 75 locations, including Stevenage and Watford.

The Restaurant Group (TRG) has completed a deal to sell both Frankie & Benny's and Chiquito to Bella Italia owner The Big Table group for £1.

It will include 75 restaurants, including Frankie & Benny's in Stevenage and Watford, and associated restaurant and management team employees.

As part of the transaction, TRG will pay a cash contribution of £7.5m to The Big Table group.

The sale of its loss-making restaurants will allow TRG to focus on its "high-quality retained group", which includes Wagamama, it said.


Andy Hornby, CEO of TRG, said: "On behalf of TRG, I would like to express our massive thanks to the extraordinarily hard-working and dedicated teams across the leisure business who have made huge improvements in the customer proposition over the last few years. We wish them all well as part of The Big Table group."

Alan Morgan, CEO of The Big Table group, said: "Creating, developing and acquiring brands that complement our existing portfolio whilst offering widespread consumer appeal is a fundamental part of our growth strategy. This exciting acquisition forms part of that strategy and we are delighted to be welcoming this new team into The Big Table group."