Board changes
Charles Wells, the Bedford-based brewer, has appointed Alan Jackson and Colin Mayes to its board. Current chairman Alec Monk will be retiring at the annual general meeting in January to be replaced by Jackson, currently executive chairman of City Centre Restaurants. Mayes, latterly chief executive of Old English Inns, becomes a non-executive director. Also retiring from non-executive duties is Wess Van Reimsdijk, who has been on the board for three years. Sporting life Bar operator Coliseum is expanding its Sports Café chain despite posting record pre-tax losses of £612,000 this year. It's opening a branch in Manchester later this autumn and also plans to take the brand to Leeds and Newcastle next summer. It currently trades in London, Birmingham and Cardiff. Signature bid Entrepreneur Luke Johnson linked to a number of deals over the past few years has launched a management buy-out for Signature Restaurants, the group which owns The Ivy and the Belgo Belgian café chain. He's expected to pay almost £25m for the company, backed by £17m from banker Barclays. Profits clipped The transfer of pubs from managed to tenanted, together with rent review costs, have clipped half-year profits at Pubs n' Bars. However, like-for-like sales edged ahead by 2.29% and are up by 2% in the third quarter. The six completed reviews will result in "an increase in rental costs of £150,000 in the full year". Chairman Mike Mealey said: "Our trading is traditionally weighted towards the second half of the year." He reported that profits for the 66-strong pub company fell from £541,240 to £513,831 while turnover dipped slightly from £7.268m to £7.169m.
