Fears for Exeter restaurant as company considers sell-off

The future of an Exeter restaurant is unclear after the company which owns it called in advisers to look at options.

Boparan Restaurant Group (BRG) is understood to have called in advisers from KPMG to look into a range of options at its casual dining eateries, reports ChronicleLive .

The group is believed to be considering site disposals or a potential sale of the Giraffe and Ed’s Easy Diner brands.

There is a branch of Giraffe in Princesshay, Exeter.

BRG also owns a number of household names, including fish and chip restaurant Harry Ramsden, but the business review is understood to be solely focused on Giraffe and Ed’s Easy Diner.

KPMG declined to comment and BRG did not respond to requests for comment.

BRG acquired Giraffe from Tesco in 2016, and later combined it with Ed’s Easy Diner, which it had bought in a pre-pack administration that same year.

There are currently 44 Giraffe locations in the UK and 24 Ed’s Easy Diner branches.

The two brands form a combined entity, which in the most recently available accounts had annual turnover of £67.1m. In the same period, underlying losses came to £1.6m.

Last year several casual dining brands overhauled their businesses, with some closing sites, amid rising costs and tougher competition in the sector.

Prezzo, Jamie’s Italian, Byron, Carluccio’s, Gaucho and Gourmet Burger Kitchen all shut restaurants.