The popular Belgian chain Lunch Garden reported a net revenue of €94.5 million in 2023, marking a 17% increase from 2022, according to its annual report.
Despite an operational loss of €5.5 million due to high operating costs, the group described the last year as a "significant step." By the end of 2023, Lunch Garden operated 61 restaurants, including 19 franchisees. In total, 883 people were employed across the company-managed restaurants, with 295 full-time and 588 part-time staff members.
Moreover, the group implemented a restructuring plan for five of its establishments. Two sites successfully transitioned into franchisees while one had to close down, Lunch Garden explained.
In 2024, the restaurant chain is working on restructuring its debts. The process involves a loan from its Luxembourg-based parent company, allowing it to write off around €11.5 million in debt and inject €36.3 million in capital.
Lunch Garden also announced changes in its leadership team. Stephan Brouwers has been appointed as the new CEO, and Caroline Breuer has stepped in as CFO, the company added.
