Regent Inns sees no let up in tough trading conditions

Embattled pub operator Regent Inns has seen no let up in the tough economic conditions that saw it post a full-year loss of £58.1m last month.

The Walkabout owner said following that update, where it also reported that like-for-like sales in the 15 weeks to the 12 October were down 13%, sales trends had remained unchanged.

The company, which also runs the Jongleurs comedy club brand, plans to spend no more than £5m on capital expenditure during its current financial year and restructured its head office this summer to further reduce overheads.

At the time of its full-year results presentation on 12 October, Regent’s chairman Jim Glover described the trading year just gone as “the most challenging in the group’s history”.

Regent will provide a further trading update at its annual general meeting on 17 December.

Regent Inns reports £58.1m loss >>

Regent Inns puts twelve more pubs up for sale >>

For more news, analysis and comment on the credit crunch >>

By Chris Druce

E-mail your comments to Chris Druce here.

Caterersearch.com jobs
Looking for a new job? Find your next bar or pub job here with Caterersearch.com jobs