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New name and strategy for Belgo
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The Belgo Group is to concentrate on expanding its Strada brand to counter flagging sales at its Belgo/Bierodrome outlets.
The Group's popular wood-fired pizza concept currently has six outlets in operation and further openings are planned.
The Bierodrome concept has suffered from a decline in tourism caused by foot and mouth, the strong pound and the US stock market fall, says the Group. The Ivy, Le Caprice and J Sheekey restaurants of Caprice Holdings have meanwhile traded well, but other outlets in the division fared less well.
The company is also proposing to change its name to reflect the diversity of its restaurant and bar portfolio to Signature Restaurants PLC, subject to shareholder approval. Operating profits fell to £4.7m in the year to July 1 despite a 12 per cent rise in turnover to £40m. Luke Johnson chairman of the group, said the year had proved difficult.
The Belgo Group is to concentrate on expanding its Strada brand to counter flagging sales at its Belgo/Bierodrome outlets.
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