Six Fat Cat bars up for sale
The company, which reported turnover of £10m for its last financial year, has instructed Colliers International to dispose of six city and town-centre bars. The sites are believed to be worth c.£2m in total.
It is thought the Fat Cat brand name will either be sold as part of the deal or discontinued once an acquisition is complete.
The venues are in Nottingham, Leicester, Derby, Bow (east London), Bangor, and Frodsham in Cheshire and include one freehold and four free-of-tie leaseholds.
A sale of the sites would leave the group with four further units, although it is thought the company may also look to eventually exit these businesses.
Colliers director Ross Kirton said: “The Fat Cat brand has been established since the early 1990s and the sale offers the opportunity for either a rollout of the brand or possibly conversion to other mid-market food and drink formats.”
The company was placed on the market in 2008 with 11 sites and a reported price tag of £12m to £15m.
