views

Belt tightening hits Restaurant

RESTAURANT GROUP, the retailer behind Garfunkel&rsquo;s and Frankie &amp; Benny&rsquo;s, yesterday warned of falling revenues. <br /><br />Sales were down three per cent year-on-year between January and October despite the opening of 17 new eateries. The company said rising unemployment, tight credit markets and high levels of household debt had made 2009 a &ldquo;challenging&rdquo; time to run a consumer-facing business.<br /><br />However, management said it was confident of meeting market expectations of around &pound;42m for full year pre-tax profit.