The Restaurant Group (RSTGF) (which I'll shorten to TRG) joined the model portfolio in early 2016, shortly after the company published some very upbeat 2015 results.
Revenues were up 8% while earnings and dividends per share were up 13%, continuing the company's long track record of impressive results.
But then things started to go wrong in its core restaurant business (TRG also runs pubs and airport concessions, and these continued to perform well).
Initially this was put down to operational issues, such as a lack of focus on value and service. But despite operational improvements