Hostmore PLC (LSE:MORE) announced the departure of its CEO, Robert Cook, as it reported sales remained below pre-Covid levels.
The news sent shares in the hospitality group, which owns the American-themed restaurants chain Fridays, down 19%.
In a trading update, the company said like-for-like revenue in the 26 weeks to 1 January was 14% lower than pre-pandemic 2019 although at £21.3mln, it was a touch above last year’s £21.2mln.
Debt levels at £29.5mln were slightly ahead of previous guidance of £32.5mln.
Hostmore said Julie McEwan, currently chief operating officer of Fridays, has been appointed interim CEO, as it seeks a permanent successor to Cook.