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Struggling bar chain Regent Inns has confirmed it is considering delisting from the London Stock Exchange.
The Walkabout owner is thought to be considering the move to save money after it admitted in February it was unlikely to survive unless it rebuilds its flagging sales.
In its most recent completed financial year Regent Inns, which also owns comedy club chain Jongeluers, reported a loss of £58.1m.
The announcement has seen investors jettison the company’s shares, which have lost more than 30% of their value in trading today ahead of the market’s close.
Regent Inns said it would make a further announcement in due course.
Regent Inns future in doubt unless it addresses falling sales >>Regent Inns sees no let up in tough trading conditions >>Regent Inns sees no let up in tough trading conditions >>
By Chris Druce
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