Regent Inns sees no let up in tough trading conditions

14 November 2008 by
Regent Inns sees no let up in tough trading conditions

Embattled pub operator Regent Inns has seen no let up in the tough economic conditions that saw it post a full-year loss of £58.1m last month.

The Walkabout owner said following that update, where it also reported that like-for-like sales in the 15 weeks to the 12 October were down 13%, sales trends had remained unchanged.

The company, which also runs the Jongleurs comedy club brand, plans to spend no more than £5m on capital expenditure during its current financial year and restructured its head office this summer to further reduce overheads.

At the time of its full-year results presentation on 12 October, Regent's chairman Jim Glover described the trading year just gone as "the most challenging in the group's history".

Regent will provide a further trading update at its annual general meeting on 17 December.

Regent Inns reports £58.1m loss >>

Regent Inns puts twelve more pubs up for sale >>
For more news, analysis and comment on the credit crunch >>

By Chris Druce

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