Urbium buys twolate-licensed bars
London bar operator Urbium has bought two bars trading as "One of Two" located in Wood Street and Old Broad Street, in the City of London. The Wood Street venue has a capacity of 330 and a 1am licence. The Old Broad Street venue has a current capacity of 290 and a 2am licence. Following the successful launch of the 540-capacity Apt in March and the opening of the 500-capacity Alibilater this month, Urbium now has eight venues in the City of London.
Mean Fiddler is sold in £38m deal
Gaiety Investments and Clear Channel Communications have bought Mean Fiddler for £38m. The news came on the day Mean Fiddler reported a narrowing of full-year pre-tax losses from £2.88m to £289,000 on turnover up from £44.1m to £49.1m. Founder Vince Power gave irrevocable undertakings on 11 March to sell his 35% stake, which triggered an offer for all the shares. Power's stake will see him take £13m for the company he created 20 years ago.
Pubs 'n' Bars adds two freeholds
Pubs 'n' Bars has acquired two freehold pubs the Red Lion, Lightwater, Surrey,and the Imperial Arms, Farnborough, Hampshire for a total of £1.45m. The pubs were purchased from the Dolphin Head, a company that had been the leaseholder of both pubs for the last two years. Pubs 'n' Bars comprises 65 pubs 42 managed and 23 tenanted. Of the 65 owned pubs, 27 are freehold and 38 are leasehold.
Clarity Commerce fulfils expectations
Clarity Commerce has reported trading in line with expectations as the company expands its business into Europe and North America. The company, which supplies software management solutions for the entertainment, ticketing, hospitality and leisure sectors, said that its Business Intelligence and Services divisions continued to grow alongside the software division. The news came as the group announced the appointment of John O'Connell as chairman. He replaces Bob Morton, who has retired after holding the position since Clarity's flotation in 2000.
