Wagamama customers embrace al-fresco dining
Owner The Restaurant Group said that since indoor dining resumed sales are now ahead of pre-Covid levels.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Diners flocked to embrace eating al-fresco following the easing of restrictions last month, according to the owners of Wagamama
The Restaurant Group said sales were at 85% of 2019 levels across 130 sites, despite customers only being able to eat outdoors and at socially distanced tables.
The company’s pubs estate of 75 sites was also at 85% of 2019 levels; however, its other restaurant brands, including Frankie & Benny’s and Garfunkels, were only trading at 60% of a year ago.
Prior to reopening in England on April 12, around 200 sites were open for delivery and takeaway with sales for home dining at around three times pre-Covid levels at Wagamama. At its other brands it was at 5.5 times.
Since welcoming customers indoors again from May 16, the company has seen a strong surge in demand, with Wagamama 22% ahead of 2019 sales and its other restaurants 21% up.
Bosses also said they have completed a previously announced £450 million refinancing deal with lenders and have drawn down £330 million so far. A £120 million credit facility has also been agreed.
Interest costs for the year are expected to be around £25 million, and the company is hopeful of a successful future with access to around £200 million currently.
It said the access to cash will “protect against a resurgence/new variant of Covid-19 as well as strengthened flexibility to capitalise on selective site expansion” in its Wagamama and pubs businesses.