Regent Inns ends talks with mystery suitor over a sale of the business
Regent Inns, owner of Walkabout and Jongleurs, has ended discussions with the mystery suitor that approached it earlier this year.
At the same time the company said trading conditions on the high street, where the majority of its bars are, had continued to be difficult since a drop-off in the New Year.
Regent said that while Walkabout and Jongleurs had generally traded robustly, sales in off-peak periods had fallen.
Competition from rivals and complications surrounding the new licensing laws introduced in England and Wales last year also curtailed the performance of some units, Regent said.
On 27 April Regent confirmed it had received an approach that might lead to an offer for the company. Although the identity of the party was not disclosed, private equity company Alchemy, which owns the Tattershall Castle Group, headed speculation.
Licensing reform affects improved performance at Regents >>
By Chris Druce
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