Pubs ‘n' Bars seek to suspend trading shares
Pubs operator Pubs ‘n' Bars has asked for its shares to be suspended from trading, ahead of a "clarification of the Group's financial situation".
The AIM-listed firm operates around 100 "community pubs", 66 of which are managed and 32 of which are tenanted.
In a trading statement last month, the firm warned of "difficult trading conditions and a lack of supplier credit", which it said was having an adverse effect on its working capital.
It added that its bankers were supporting the business on a day-to-day basis but that discussions with them regarding its future funding were still "ongoing".
In September, Moorgate Taverns, a wholly-owned subsidiary of Pubs ‘n' Bars, which operated a 10-strong pub estate in Hertfordshire, went into administration after trading at a loss and breaching its banking covenants.
Pubs ‘n' Bars declined to comment further on this morning's announcement.
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By Neil Gerrard
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