Group sources confirm the closure: “Alsea Spain has decided not proceed to reopening of the three Wagamama restaurants that operated in Madrid. This decision corresponds to a portfolio rationalization exercise of the group, which is focusing its efforts on promoting its main brands. “
The establishments of the British brand were provisionally closed as a result of the confinement measures decreed by the Government with the state of alarm to face the crisis of the coronavirus. Not surprisingly, Alsea had to bring 22,000 workers to the ERTE. However, after that period, the owners of the company have decided not to reopen.
Alsea (Vips) presents its ERTE for 22,000 employees due to the coronavirus
The document was in the preparation phase in recent days and has already been submitted to the authorities, so it is “pending resolution”
However, from the company, they clarify that “the Wagamama brand, based in the United Kingdom, will study to reopen new restaurants in Spain in the future“But for now, lovers of oriental food will no longer be able to go to these establishments. The current crisis is hitting the hospitality sector hard, so some businessmen are opting for closure.
In any case, Wagamama was already in Alsea’s crosshairs. In fact, in February of this year, before the pandemic hit, Mexican investors already three other open establishments closed for this brand in Madrid. Then they closed the one on Calle Serrano, the one located on Calle Génova and the one in Parque Sur de Leganés, according to ‘Cinco Días’.
Plácido Arango sells VIPS for 500 M to the Hispanic-Mexican group Zena-Alsea
This investment leads to the creation of the largest restaurant operator on the Peninsula, with a portfolio of leading local and international brands
Now those on Calle Antonio López, Calle Princesa and the Equinoccio de Majadahonda shopping center are closed. Sigla, the previous owner of Grupo Vips, bet on the brand Wagamama since 2017.
His goal then was to open 20 stores between Spain and Portugal. In 2018, it reached six stores in Madrid. Later, after the sale of Vips to Alsea for 500 million euros, as advanced El Confidencial, the closures began, which now culminate with the closure of the last three that were operational. The restaurants gave 2.5 million euros of losses in 2017 and 2018. In January, Alsea closed the Argentine restaurants in La Vaca.
Now, the company wants focus on more established brands. At the moment, Alsea has not revealed what it intends to do with the premises where these Wagamama establishments were, if it will stop operating them or choose to put one of its other brands.