IN BRIEF: Tortilla Mexican Grill brings back founder as CEO departs

Tortilla Mexican Grill PLC - London-based fast-casual Mexican restaurant chain - Brandon Stephens, the company's founder, moves back to chief executive officer from non-executive director, effective immediately on Friday, replacing Andy Naylor. Stephens founded Tortilla in 2007 and was its CEO until 2014. Naylor has been CEO only since the start of 2024, having been promoted from CFO. Tortilla saysthe changes are being made as the company "enters its next phase of development". The company thanks Naylor for his "significant contribution" and "wishes him well in his future endeavours". Tortilla also hires Mac Plumpton, former managing director of fast-casual restaurant chain Leon, to be UK CEO.

Back in September, Tortilla reported a pretax loss of GBP2.3 million in the first half of 2025, widened from GBP235,045 a year prior. It also lowered its guidance for 2025 adjusted earnings before interest, tax, depreciation and amortisation by 10%. Last week, it said it expects to report revenue for the year ended December 28 of GBP73.8 million, up 8.5% from 2024, though it warned on higher costs in the UK.

Among other strategic initiatives, Tortilla says it plans to eliminate loss-making stores in the UK and convert the remaining Fresh Burritos stores in France into Tortilla-branded stores. The company will hold a capital markets day in "coming months" to provide details on its plans.

Current stock price: 58.25 pence, up 3.1% in London on Friday morning

12-month change: up 18%

By Tom Waite, Alliance News editor

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