Uncertain future for Premium Bars & Restaurants

Following the breakdown of the sale of the company to the Reuben Brothers the future of the AIM-listed company well known for brands like Living Room and Prohibition bar & grill is in doubt and it being placed into administration looks likely.

The group has seen a sharp decline in trading performance of its 47 outlets leading to its share price slumping and being suspended, valuing the business at only £700,000. This despite its reputation for attracting Premier League footballers regularly to its Manchester and Birmingham Living Room outlets. This part of the business is the most attractive to potential buyers which may include Ladhar Leisure and the current management.

As an appointed stocktaker to the group SPK Stocktakers are hoping, along with the many staff employed in the group, that a buyer may still be found.

Mark Easton reports on the evolution of Pubs

This report by the BBC's home editor is a must read on the changing nature of the great British Pub. Crucially the evidence suggest that while the traditional 2 pints of lager and a packet of crisps culture will not keep a Pub in business, at the same time research by CGA shows that "branded pubs and café style bars are actually opening at a rate of two a week".

So the way to survive is to change, and this needs to be embraced by "wet-led" establishments if they want to survive.

Read Mark Easton's report here