Activities

Urban Dining was set up by former PizzaExpress and Punch Taverns directors to buy  up to three proven restaurant brands with 15 or more venues and expand each brand into chains of around 100 outlets in major cities across the UK.

Its first (and only) brand was Tootsies, a UK-wide chain of quality, family-oriented burger restaurants located on high streets and in shopping centres, which it acquired in 2004.

Following disappointing trading figures, the group  abandoned its planned role as a consolidator in the industry and was acquired in May 2006 by Clapham House Group.

Timeline

• November 2003: Glen Tomlinson and John Metcalfe (both ex-directors at PizzaExpress) set up Urban Dining with former Punch director Tim Woodcock.
• May 2004: Urban Dining floats on the Alternative Investment Market at 50p a share and additionally raises funds of £2.75m.
• September 2004: Urban Dining asks for its shares to be temporarily suspended pending the outcome of talks to buy its first restaurant brand.
• October 2004: Urban Dining rejoins AIM, raises a net £27.9m through the placement of 49 million new shares at 60p each, and buys 23-strong burger chain Tootsies for more than £31m by means of a reverse takeover that completes in November. The first Tootsies opened in Notting Hill, London, in the early 1970s and the nine-strong chain was acquired in 1999 by Andrew Bonnell, who now joins the Urban Dining board. The line-up includes four Dexters restaurants that are rebranded as Tootsies.
• November 2004: Chief executive John Metcalfe resigns in the wake of disappointing trading figures. The company abandons its multi-brand plan to become a consolidator within the restaurant sector and embarks on a strategic review of the business that may result in its sale.
• January 2006: Urban Dining reveals that it has received several indicative offers from interested parties, both trade and financial, and that more detailed discussions will follow.
• March 2006: Clapham House Group tables a cash offer of £23.5m (or 44p a share) to buy Urban Dining, which now has 30 Tootsies outlets. The deal completes in May.

Financial snapshot

Last published full-year figures

Turnover: £4.1m
Pre-tax profit: -£135,000

Last published half-year figures

Turnover: £9.3m
Pre-tax profit: £625,000

Financial year end: 30 January 2005
Half year end: 31 July 2005

Operating data

At the time of the takeover by Clapham House Group, Urban Dining had 30 Tootsies restaurants and around 800 employees.