Old Monk in crisis talks with bankers
20 September 2002 by Christina Golding
Pub company Old Monk is in talks with its bank over its financial position just months after issuing a profits warning.
The AIM-listed company issued a statement to the London Stock Exchange this morning saying it was in "discussions with its bank concerning its financial position" and that the directors were "considering the options available" to the company.
In May, Old Monk warned that its full-year profits would be 15% down on the previous year, around £1m less than City forecasts.
The group has been concentrating its efforts on converting pubs to its South African-themed Springbok bars. It has also sold several pubs its said were unsuitable for conversion.
