Gourmet Holdings is to sell its entire pub restaurant operation following a strategic review. The group will concentrate on its Richoux brand, which it believes offers good opportunities for expansion. Gourmet recorded operating losses of £23k in June 2006, compared to £421k profits for the previous year. It attributed these losses to the poor performance of its non-branded pub restaurants and to an increase in overhead costs. Gourmet also announced that it will abolish the position of Chief Executive, with the Managing Director Andrew Guy assuming sole executive responsibility. The current CEO, Gareth Lloyd-Jones, will leave the company. Chairman Nigel Whittaker will also step down as previously planned, and will be replaced by Richard Scott. Whittaker will remain a non-executive director.