Food and Drink Group warns on performance

Henry J Beans owner Food and Drink Group has issued a profit warning after tough trading in the past two months.

The group has also sold its leasehold Jamie's Winebar on Maddox Street, in Mayfair, London for £600,000 in a bid to reduce debt.

The Henry J Beans owner will make a profit of £200,000 on the sale of the struggling bar.

The company, which has 33 London-based bars, revealed in January that it is looking for an investment partner to boost its performance.

Since acquiring seven leasehold sites from Puzzle Pubs in April 2007 the company has suffered from the start of the England smoking ban, due to its venue's limited outdoor space, and an overall downturn in consumer spending.

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By Christopher Walton

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