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Sports Cafe suspends shares

11 January 2008 by
Sports Cafe suspends shares

Struggling bar group Sports Cafe has temporarily suspended trading of its shares on AIM ahead of an announcement.

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

In the statement on Wednesday 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.

Sports Cafe seeks rescue after poor Christmas >>

Sports Cafe optimistic despite football failure >>

By Christopher Walton

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