The Sunday Times reports that the company, which owns brands such as Café Rouge, Las Iguanas and Bella Italia, is working with Alvarez & Marsal to help cut its costs.
CDG chief executive Steve Richards told the paper a “small number” of its c.300 restaurants were lossmaking “due to high rents and rates” in a “difficult trading environment”.
The group, previously named Tragus, entered a Company Volunatary Agreement back in 2014 with a plan to close around 40 restaurants.
Losses at CDG rose 18% to £60m in the year to May 2017, despite a 2.2% rise in like for like sales.
It announced a £30m refinancing package in July this year which it said was to position it for growth in a “challenging” market.
The company has sought to diversify in to delivery to tackle rising costs. This year has seen the launch of croque monsieur-focused Stack and Grill and the Chef and Rooster chicken concepts out of Café Rouge kitchens, as well as Blazing Bird from Las Iguanas.
CDG also recently partnered with Tesco to launch a range of Bella Italia-branded ready meals.