The owner of restaurant chains Wagamama, Frankie & Benny's and Chiquitos are to shut 23 venues by the end of the month.
The Restaurant Group (TRG) announced on Tuesday that they had brought forward their programme to close loss-making restaurants as part of the company's ongoing cost-cutting efforts.
It follows a previous statement in March revealing that 35 of their restaurants would be disposed of in a measure to save the firm around £5 million per year in costs.
A statement from TRG read: "The combination of current trading and incremental cost savings achieved provides confidence that TRG is tracking ahead of management expectations on its medium-term margin accretion and deleveraging plans,"
Shares in the company jumped on Tuesday morning following the announcement, with executives hailing "good progress" in the cost-cutting programme.
TRG currently operate 410 venues across the United Kingdom, with their brands also including the Coast to Coast, Brunning & Price, and Firejacks chains.
The company revealed this week that like-for-like sales grew by 2% at Wagamama over the first quarter of 2023, with a 5% rise for its pub arm and 37% growth across its concessions, amid a recovery in airport passenger numbers.
Meanwhile, Wagamama sales grew 9% over the four weeks to April 30, while the sales decline at TRG's leisure sites slowed to 1%.
Up to eight new sites for pan-Asian casual dining chain are due to open in the next year.
Commenting on the company's update analysts at Barclays said: "The statement is strong across the board, with trading holding up well despite consumer spending headwinds."
Recent turmoil within the company saw activist investors Oasis pledge to vote down a "disproportionate" pay packet for CEO Andy Hornby as they campaign to improve returns on profits.
The Hong Kong-based investors, who own a 12.3% stake in the group, previously had a request for a seat on the board rejected.
