Sports Cafe seeks rescue after poor Christmas

09 January 2008 by
Sports Cafe seeks rescue after poor Christmas

Struggling bar group Sport Café's future is in the balance after a poor Christmas.

The company is currently in discussions with its bankers to extend its overdraft after a poor Christmas trading period and slow start to 2008.

In the statement the group said that while its bank had been supportive in the past there was no guarantee that they would be bailed out this time.

The company, which ended potential takeover talks this time last year, has been putting in a place a series of cost cutting measures to stabilise the business.

In November 2007 the company said there were early indications of "some success" with profits over the past four months ahead of last year's figures and a strong pipeline of Christmas bookings showing evidence of an upturn in performance.

Last February Sports Cafe founder Bill Balkou stepped down from his role as chief executive of the company and was replaced by Peter Marks.

Early today Frankie and Benny's owner The Restaurant Group became the latest hospitality operator to warn about a drop in consumer spending.

Sports Cafe optimistic despite football failure >>

Sports Cafe suffers due to lack of sport >>

Sports Cafe to boost margins by cutting costs >>

Sports Cafe founder steps aside for new boss >>

By Chris Druce

E-mail your comments to Chris Druce here.

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