Clapham House Group (CHG) is in believed to be in advanced discussions over the sale of its curry-themed Bombay Bicycle Club (BBC) chain.
According to The Times, CHG has put its three BBC restaurants and 14 home delivery kitchens in London up for sale after receiving unsolicited approaches.
It is believed that the sites would be put up for sale through Coffer Corporate Leisure with an asking price of less than £10m.
David Page, executive chairman at CHG, refused to comment. Coffer Corporate Leisure was also unable to comment further.
CHG has seen its sales recover after the poor performance of several Tootsie sites before Christmas dragging its share price down and sparked fears of a downturn across the entire casual dining sector.
Speaking to Caterer after unveiling its year end results on 30 June Page said: “We are quite happy with four brands. We said when we floated we would act like venture capitalists.
“If we were to sell on a brand we would buy another one, to act like a venture capitalist with a portfolio of brands. There are small, fast-growing businesses with three or four sites that we could get to 20 or 25 sites, but we have to be convinced they are better than the brands we have already got.”
Read the Times article in full >>
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By Christopher Walton
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