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The owner of Frankie & Benny’s and Chiquito is to speed up plans to close restaurants.
Restaurant Group said it would close up to 90 of the restaurants and it will temporarily suspend its dividend.
The group has been struggling with falling sales at those restaurants, which have offset stronger performances in Wagamama and its concessions and pubs units.
Shares in Restaurant Group fell more than 6% in early trading.
The company said it would reduce the number of restaurants to 260-275 by the end of 2021, down from 350 currently.
It had initially looked at more than 120 restaurants last year with a view to closing a number of them within six years.
All of the restaurants that are to close will be either Frankie & Benny’s or Chiquito.
Between seven and twelve will be converted to Wagamama’s; about 31 will close when the lease expires; 12 freehold properties will be sold; and from 25 to 35 others will be put on the market to be sold in the shorter timescale.
The group will aim to avoid job losses by offering staff new roles in restaurants within a reasonable driving distance.
Restaurant Group boss Andy Hornby said: “Our three growth businesses of Wagamama, concessions and pubs are all out-performing their respective markets and have clear potential for further growth.
“I am also acutely aware of the challenges facing our leisure business and the wider casual dining sector.”
The Restaurant Group said like-for-like sales in it’s leisure business, which includes Frankie & Benny’s and Chiquito, fell 2.8% in 2019 compared with the year before. By contrast, Wagamama sales grew more than 8.5%.