Nordsee puts plans for flotation on hold
05 July 2001
Nordsee, Europe's largest quick-service seafood restaurant chain, has postponed its planned flotation on the Frankfurt stock exchange.
It was due to float last week but decided not to do so following a series of disappointing flotations on the German stock market. It has postponed its flotation indefinitely.
Nordsee has 357 restaurants in Germany, 48 in Austria and two franchises in Switzerland.
It planned to raise a204m (£122m) from its flotation, which it would have used to open further restaurants.
Nordsee has 20 snack shops, 211 self-service restaurants and 176 Meeresbuffets.
The Meeresbuffet restaurants have dining areas, snack shops and counters selling fresh fish.
