Regent to call time on 13 pubs

REGENT Inns is planning to sell 13 of its unbranded pubs for £8m after a dismal trading period. The owner of the more successful Walkabout and Bar Risa/Jongleurs chains said that like-for-like sales at its nine unbranded sites in the capital plummeted 12.6% in the six months to 29 December.

Outside London, the remaining 42 in the division saw comparable sales slide 2.2%. Chief executive Stephen Haupt blamed the events of 11 September but analysts suspect the group took its eye off the ball while concentrating on the branded chains.

Former Regent director Peter Mackie's new company is buying the 13 pubs. More disposals from the division are expected.

Of the US terrorist atrocities' impact on Jongleurs, Haupt said: 'It was a short, sharp shock for us but we have bounced back well.'

Jongleurs' comparable sales for December were 8.6% ahead of last year, although a Manchester venue opened last May was struggling to win the hearts of locals.

Underlying pre-tax profits in the half year were £7.7m against £7.3m a year earlier, not including the £800,000 spent on fruitless negotiations to buy Pitcher & Piano from Wolverhampton & Dudley Breweries. Turnover was £59.3m compared with £49.4m a year earlier.

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