Food giant The Restaurant Group which owns Frankie & Benny's and Chiquito have made the shock announcement that they will be closing 23 of its branches.
The move comes just days after the firm unveiled that they suffered a slump in sales and blamed it on "substantial price and proposition changes".
The restaurants on sale have already closed and are not trading.
TRG which own Frankie & Benny's and Chiquito in Exeter have confirmed that both branches in the city will not be one of the 23 restaurants affected.
Last year Exeter's Frankie and Benny's escaped closure after company announced that it would also be closing 33 of its branches nationwide.
David Bell, a head of UK leisure at Savills told The Caterer: "We are pleased to be marketing this high-profile portfolio on behalf of TRG. Due to the mix of locations and diverse nature of the restaurants involved, we are anticipating strong interest from a wide variety of existing retail and leisure operators as well as new entrants."
Savills is also retained to acquire new sites for TRG across the Midlands, East Anglia, the South of England and Wales.
The full list of properties for sale includes:
1. Filling Station, Aberdeen
2. Chiquito, Barking
3. Frankie & Benny's, Barrow in Furness
4. Frankie & Benny's, Bath
5. Chiquito, Blackburn
6. Chiquito, Cardiff (Old Brewery Quarter)
7. Chiquito, Cardiff (Red Dragon Centre)
8. Chiquito, Chelmsford
9. Frankie & Benny's, Coventry
10. Joe's Kitchen, Derby
11. Frankie & Benny's, Gateshead
12. Chiquito, Glasgow
13. Chiquito, Hamilton
14. Frankie & Benny's, London Finchley Road
15. Frankie & Benny's, London Greenwich
16. Garfunkel's, London Strand
17. Chiquito, Milton Keynes
18. Coast to Coast, Newcastle Upon Tyne
19. Joe's Kitchen, Nottingham
20. Frankie & Benny's, Redhill
21. Frankie & Benny's, Stafford
22. Coast to Coast, Wembley
23. Frankie & Benny's, York
Describing recent trade as "challenging", TRG said earlier this week that it realised it needed to make substantial price and proposition changes, having already started price and menu trials across Frankie & Benny's.
Among the measures it will take in its programme of transformation are a proposition improvement to make sure the business is competitive on value, improved operating processes to deliver attentive and engaging service, and a leaner, faster and more focused business.
In a statement the company said: "We expect the trading performance of the business in the first half of 2017 to remain difficult, but anticipate momentum improving towards the end of this transitional year as our initiatives start to take effect."
It also warned that it would face external cost pressures from increases in the National Living Wage, the National Minimum Wage, the Apprenticeship Levy, the revaluation of business rates, higher energy taxes and increased purchasing costs due to the combined effects of a devalued pound, and commodity inflation.
Chief executive Andy McCue, who replaced Danny Breithaupt told The Caterer: "Since joining the group in September, I have been impressed by my colleagues' passion for our brands, and commitment to our customers through what has been a very difficult trading period. I'd like to thank them all for their positive contribution, and for their continuing support, as we make the necessary changes to offer better value and satisfaction to our customers."