Troubled pub and restaurant operator Regent Inns has revealed it is in “very early stage discussions” over a potential sale of the company after receiving several approaches.
The Walkabout and Old Orleans owner has stressed that the discussions may or may not lead to an offer being made for the business and talks are ongoing with more than one party.
Regent Inns admitted to difficult trading conditions back in October, citing the bad summer weather and comparisons to trading during the World Cup in 2006 for poor like-for-like sales.
It issued a profit warning in December and revealed like-for-like sales for the 21 weeks to 24 November were still depressed, having fallen 2.8% due to growing consumer caution.
The company said today that since that statement “it continues to experience more challenging market conditions against a background of a difficult consumer market generally”.
Regent Inns >>
Regent Inns issues profits warning >>
Regent Inns hit by poor summer weather >>
by Christopher Walton
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