Embattled bar operator Regent Inns will delist from the London Stock Exchange on Monday 15 June.
The Walkabout owner, which reported an annual loss of £58.1m last October, believes it could save around £200,000 by delisting.
The move comes after the company admitted in February it was unlikely to survive unless it rebuilds its flagging sales.
Jim Glover, non-executive chairman of Regent Inns, said: “The private company arena is now the most practical one for Regent and will provide a more suitable environment in which to manage the company.
“After much consideration, the board now regards the delisting to be in the best interests of the shareholders of Regent as a whole. It is recommending this course of action to shareholders accordingly.”
After delisting Regent Inns will place its shares, valued at 5p, on Sharemark on 16 June, which is a member firm of the London Stock Exchange.
Regent Inns confirms it is considering delisting from stock market >>
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Regent Inns sees no let up in tough trading conditions >>
Regent Inns reports £58.1m loss >>
By Chris Druce
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