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Whitbread Closes Restaurants
- Whitbread will close all 197 Beefeater and Brewers Fayre restaurants in the UK, cutting 3,800 jobs.
- The closures back a five-year plan to become a Premier Inn hotel business, converting about 600 sites into Premier Inn rooms and selling and leasing back roughly £1.5 billion of freehold properties.
- The plan targets £250 million of cost savings, cuts capital spending by more than £1 billion and affects roughly 12 percent of Whitbread’s 30,000-strong UK and Ireland workforce.
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