Robert Tchenguiz buys back Laurel pubs leases

14 August 2008 by
Robert Tchenguiz buys back Laurel pubs leases

Robert Tchenguiz has bought back the leases on around 80 former Laurel pubs and bars, which were placed into administration in March.

In March, the property investor, who had owned the pub group through his R20 investment vehicle, placed Laurel and its 383 pubs and restaurants in administration.

He immediately bought back 292 sites through his Town & City Pub Company and Bay Restaurant Group ventures.

With the latest deal, Tchenguiz has taken back control of all except 10 of the former Laurel sites.

Of the remaining 10 Laurel sites, JD Wetherspoon has bought five and Revolution vodka bar operator Inventive Leisure has bought one.

Town & Country's portfolio consists primarily of Yates's sites, while Bay Restaurants operates the La Tasca, Slug & Lettuce and Ha Ha Bar & Canteen brands.

Laurel Pub Company creditors face £130m loss >>

Laurel rescued from administration >>

Laurel puts 94 pubs up for sale >>

Tchenguiz to sell M&B stake? >>

By Daniel Thomas

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