Garfunkel’s Owner on the Menu for Activist Investor

An activist investor is building a stake in The Restaurant Group, owner of eateries such as Frankie & Benny’s and Garfunkel’s. Crystal Amber, whose past targets have included Pinewood film studio and the chocolatier Thorntons, has bought about 1% of the FTSE 250 company — below the 3% threshold at which shareholdings must be disclosed to the market. It could take as much as 5%, sources said. The activist’s swoop comes after a near-halving of The Restaurant Group’s share price since the start of the year amid a trio of profit warnings.

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