The Restaurant Group has become a target of activist investor Irenic Capital Management, which is pushing for a change at the Wagamama and Frankie & Benny's owner, Bloomberg News reported on Tuesday 7 March, citing people familiar with the matter.
Details
Irenic Capital has had private discussions with the company, including potential divestiture of its pubs and concessions businesses, increasing disclosure around the profitability of Wagamama and reducing corporate costs, the report said.
In February, shareholder Oasis Management publicly called for the company to take immediate steps to restore market confidence, after requesting a board seat last year, which the Restaurant Group said it had rejected.
Additional Information
The company and Irenic Capital did not immediately respond to Reuters' requests for comment.
Read More: The Restaurant Group Rejects Oasis Request For Board Seat
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