Bella Italia owner slashes losses after shedding 700 jobs
Losses at the owner of Café Rouge, Bella Italia and Frankie & Benny’s have been slashed after shedding 700 jobs during its latest financial year, it has been revealed.
The Big Table cut its headcount from 4,236 to 3,531 in the 12 months to 27 October, 2024, new accounts filed with Companies House show.
Over the same period, the group’s pre-tax loss was slashed from £13.8m to £4.4m.
The results also show The Big Table’s turnover increased to £32.5m, up from the £31.6m it posted in its prior year.
As well as Café Rouge, Bella Italia and Frankie & Benny’s, the group’s brands also include Las Iguanas, BananaTree, Amalfi, Filling Station, Coast to Coast, Chiquito, Firejacks and Est.
The results come after The Restaurant Group sold its Frankie and Benny’s and Chiquito sites to The Big Table Group in September 2023.
As part of the deal, the Wagamama owner paid a cash contribution of £7.5m to the acquirer to take the 75 underperforming sites off its hands.
Bella Italia owner eyeing improved 2025
A statement signed off by the board said: “The cost-of-living impact on the consumer continued to adversely impact the hospitality sector.
“With impact on discretionary spend, and how the consumer chose to eat out, the differential between peak and off-peak trading became more evident.
“Across the year, key trading weeks such as holiday and event periods continued to peak, with softer volumes during other parts of the year.
“Trading across the festive season of 2023 was ahead of the prior year, with other peaks of growth at various points across the year.
“Within a competitive and tough market, we strategically focused on profitable sales, ensuring that value opportunities to the guest remained profitable for the company.
“Sales increased year on year and sales to profit conversion was stronger with overall EBITDA [Earnings Before Interest, Taxes, Depreciation, and Amortisation] for the company ahead of the prior year.
“The company continued to successfully navigate the inflation headwinds, with favourable cost reduction in meat, poultry, seafood, cheese and dairy.
“The procurement, operations and food delivery teams worked with our key suppliers and partners to successfully reduce our food and beverage costs year on year whilst ensuring that our food quality delivered positive guest scores.
“Utility costs continued to be high but were lower year on year given lower market pricing.
“Overall, our cost controls were strong, providing improved profit conversion.”
On its future, The Big Table added: “The cost of living continues to impact consumer confidence and spend.
“The directors anticipate that 2025 will remain challenging for the sector with signs of improvement from mid-2025.
“Continued focus on the guest and the guest experience will be important, whilst ensuring that the economic model supports both profit and cash generation.”