Frankie & Benny’s and Chiquito in Nacton Road, Ipswich listed on market by Savills after closure

Two former restaurants in Ipswich have gone up for sale following their closures.

Italian chain Frankie & Benny’s as well as Tex-Mex eatery Chiquito, in Ravenswood, closed their doors on July 29 and August 28, respectively.

The Restaurant Group, which owns both chains, said in March it would close 35 eateries to boost its earnings.

The group said running costs and customers cutting back on spending were among the reasons it was planning to cut back on its estate.

Ken Hanna, the group's chairman, said that last year was particularly challenging for the dining sector overall, as businesses had to meet rising costs after recouping from losses as a result of closures during the pandemic.

He added that a lack of staff, demand for higher wages and the price of ingredients going up had also been tough and that their restaurants had been ‘impacted to some degree by the cost-of-living pressures on the UK consumer’.

A sign on the door of Chiquito thanked customers as it announced it would shut.

There are no other Chiquito or Frankie & Benny’s eateries in Suffolk.

The Italian chain’s other eatery, in Cardinal Park, Ipswich, shut in 2020. The Bury St Edmunds eatery closed last year.

Frankie & Benny’s and Chiquito are listed on the market by Savills.

They are available to buy or rent and are valued at £83,500 and £101,000 currently, based on 2017 estimates.

Nearby businesses include Lidl, Harvester and Toby Carvery.