Wagamama owner raises cash to see it through lockdown

Wagamama_Adobe_575x375_April9.jpg
By Sam Kerr
09 Apr 2020

The Restaurant Group, the owner of numerous UK dining brands including Wagamama and Frankie & Benny's, raised £57m through an equity raise on Wednesday night to see it through what it expects to be a long period of Covid-19 lockdown with all its restaurants closed until June.

JP Morgan was the sole bookrunner on the 98.2m share placing, worth 19.9% of the company’s share capital.

The proceeds of the raise will be used to provide it with “sufficient liquidity” in order to continue to operate through what it called an extraordinary period; the company ...

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