Remaining SFI sites to be sold 'in weeks'

From The Publican

Start a new thread27-Jul-2005

Related topics: Company & City News

Administrators for SFI are hopeful of shifting the remaining sites of the collapsed group within weeks.

 

PricewaterhouseCoopers' David Chubb, joint administrator of SFI, said that his firm was in "deep negotiations" with a number of prospective buyers for the 26 outlets that remain following the collapse of the bar group last month.

 

Sales would be completed "hopefully in weeks rather than months", Mr Chubb said.

 

"The sooner we can get these outlets into the hands of new owners the better it will be for all concerned, particularly the employees," he added.

 

Robert Tchenguiz's Laurel Pub Company bought 101 SFI city centre outlets, mainly prime-sited Slug & Lettuce bars, for £80m from PwC last month.

 

At the same time administrators closed another 26 sites, including a number of Bar Med and Litten Tree outlets, with the loss of more than 300 jobs.

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