MONCTON, N.B. — Imvescor Restaurant Group has named a new CEO in time for the release of its third-quarter earnings, which disclosed total revenues of $11.8 million for the Moncton, N.B.-based group of restaurants, a drop in sales compared to the $12.3 million earned in the same period last year.
Frank Hennessey has been appointed president and CEO, overseeing Pizza Delight, Mikes, Scores and Bâton Rouge. The 27-year foodservice veteran was recently president and CEO of Markham, Ont.-based Bento Sushi and held executive roles at Cara Operations Ltd. He was president of Harvey’s and SVP of Guest Experience for the Vaughan, Ont.-based chain.
“Frank has a track record of turning around restaurant and franchise concepts as evidenced by the operational improvements at Bento Sushi and Harvey’s restaurant under his leadership. The Board looks forward to working with him to maximize the potential of Imvescor,” said François-Xavier Seigneur, chairman of the Corporate Governance, Human Resources and Compensation Committee for Imvescor.
Meanwhile, the company reported a drop in same-store sales for Pizza Delight (-0.9 per cent); Scores (-9.0 per cent); and Bâton Rouge (-2.2 per cent). While, Mikes saw an increase of 1.2 per cent. What’s more, Imvescor’s year-to-date revenue of $36.3 million is higher than the $34 million earned in the same period last year.
In the past year, the company has been revitalizing its franchisee network and exploring menu and marketing initiatives. It is also growing its manufacturing and retail segment, which sells prepared food under the Commensal brand name and under its restaurants’ brand names.