Jamies Bars sale looks likely soon
21 March 2002 by web
Jamies Bars, the owner and operator of 16 bars in the City and Central London, could soon be sold. The group, which recently saw its share price increase, has been approached by a potential buyer.
It issued a statement earlier this week, saying it was in "very initial discussions" and did not expect that any offer would be at a significant premium to the group's current market price. But industry insiders think a sale is likely.
Last year Jamies put a freeze on capital spending after its pre-tax profit fell by 59% in the 12 months to 28 July. Turnover during the period increased by 27% to £9.22m.
