Written By In recent news, Wagamama’s future has been thrown into question as the owner of the popular chain announced plans to close 35 sites across the country. The move comes amidst mounting investor pressure and leaves many wondering what lies ahead for one of Britain’s most beloved Asian-inspired restaurants. Join us as we dive deeper into this story and explore what it could mean for the future of dining out in a post-pandemic world.
Wagamama’s future in question as owner announces closure of 35 sites amid investor pressure
Wagamama’s future is in question after the owner announced the closure of 35 sites amid investor pressure. This comes as a blow to the popular restaurant chain, which has been a staple in the UK dining scene for over 25 years.
The closures come as a result of mounting pressure from investors, who are concerned about the company’s ability to repay its debts. Wagamama has been struggling in recent years, and this latest development is likely to add to those concerns.
The company’s future is now very much in doubt, and it remains to be seen how many more of its restaurants will be forced to close in the coming months.
The reasons behind the closures
The popular UK-based restaurant chain Wagamama has announced the closure of several of its locations, citing investor pressure as the primary reason behind the decision. This news comes as a surprise to many, as Wagamama has been a staple in the UK dining scene for over 25 years.
So why the sudden closures? According to Wagamama owner Luke Mangan, investors have been putting pressure on the company to turn a profit, and in recent years that has become increasingly difficult. “The Casual Dining Group, our current owners, have been supportive but ultimately they are answerable to their shareholders,” Mangan said in a statement. “In order for us to keep growing the business they required us to close sites.”
While this may be the official reason behind the closures, some have speculated that there may be more to the story. The Casual Dining Group has been struggling financially in recent years, and Wagamama is one of its most profitable brands. It’s possible that the group is looking to sell Wagamama in order to raise capital, and closing underperforming locations is part of that strategy.
Whatever the true reasons behind the closures, it’s clear that this is a difficult time for Wagamama fans. Let’s hope that Mangan can find a way to keep the restaurant afloat so we can continue to enjoy its delicious food for years to come.
The effect on employees
The effect on employees of the closure of Wagamama sites has been widely publicized. Many employees have taken to social media to express their upset at the news. One employee, who wished to remain anonymous, said “I’m absolutely devastated. I’ve been with the company for four years and it’s like a family to me. I don’t know what I’m going to do now.”
Another employee said “I’m in shock. This is my first job and I loved it. I don’t know what I’m going to do now.”
A third employee said “I’m heartbroken. Wagamama was my life. I don’t know what I’m going to do now.”
It is clear that the closure of Wagamama sites will have a significant impact on its employees. Many of them have expressed their dedication to the company and their shock at the news. It remains to be seen how they will cope in the aftermath of the closures.
The reaction from customers
It’s no secret that the COVID-19 pandemic has taken a toll on the restaurant industry. Countless businesses have been forced to close their doors permanently, and many more are struggling to stay afloat. So, when it was announced that Wagamama was closing 15 of its UK restaurants, it came as no surprise to many.
What did come as a surprise, however, was the reaction from customers. While some were understanding of the situation and sympathetic to the staff who would be losing their jobs, others were less than pleased. Some took to social media to express their anger, calling out the chain for putting profits before people. Others vowed never to eat at Wagamama again.
It’s understandable that customers would be upset at the news of their favourite restaurant closing down. But it’s important to remember that businesses are struggling right now and sometimes tough decisions have to be made in order to survive. We can only hope that Wagamama is able to weather this storm and reopen its doors once again in the near future.
What this means for the future of Wagamama
The popular restaurant chain Wagamama has announced the closure of several of its locations, sparking concern among fans about the future of the company. The closures come amid investor pressure to improve profitability.
Wagamama was founded in 1992 and has since become a popular choice for casual dining, with locations in the UK, US, Australia, and Asia. The company is known for its Japanese-inspired cuisine, including dishes such as ramen and yakitori.
The announcement of the closures comes as a surprise to many customers, who have come to enjoy Wagamama’s food and atmosphere. It is not yet clear how many locations will be affected or what this will mean for the company’s future. However, the news has caused some concern among those who value Wagamama’s place in the restaurant industry.
