Franco Manca and The Real Greek owner Fulham Shore warned on profit on Thursday as fewer people ate at is restaurants, causing it to curtail expansion plans.
Jamie Oliver, Byron, Carluccio’s, Prezzo and other mid-market British chains have struggled to attract cash-strapped customers, while a weak pound has increased their costs.
Shares in Fulham Shore, which was founded in 2012, fell 20 percent after it said its restaurants were serving fewer customers than last year, with higher operating costs.
“We are operating in an uncertain economic outlook for both the UK and the restaurant sector in particular,” it said.
“We will bring forward our plans only to fund new restaurant openings from our internally generated free cash flow by reducing the number ... for the coming year,” it added.
Franco Manca restaurant owner hit by British belt-tightening