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Morning Briefing for pub, restaurant and food wervice operators

Fri 15th Aug 2014 - iNTERTAIN seeks new investment to fuel growth
iNTERTAIN seeks new investment to fuel growth: iNTERTAIN, the owner and operator of 32 bars trading principally under the Walkabout brand, has appointed advisors to help secure new investment in the business to finance its expansion plans. iNTERTAIN was formed in October 2009 to acquire the prime trading assets previously owned and operated by Regent Inns. Five years on, it is able to report excellent returns from its investment in the Walkabout brand and programme of refurbishments. The most recent Walkabouts to benefit – in Derby, Carlisle and Lincoln - have seen trade increase by an average of 52%. John Leslie, CEO, said: “The decision to seek new capital reflects the opportunity for significant growth. Our work done on the evolution of the Walkabout brand over the last 18 months has delivered exceptional returns. We have identified many development opportunities in the existing estate as well as expansion opportunities through new Walkabout sites. We believe this will generate considerable investment interest. Discussions are at a very early stage and there are many different options open to us now,” he added. While Walkabout forms the core of the iNTERTAIN portfolio, it also operates Jongleurs comedy clubs as well as individual bar concepts. “I am delighted that the business is now in a position where we can see real value in continuing to invest in the existing estate and the potential for further site acquisitions,” said Leslie. “Things never stand still for very long at iNTERTAIN and the whole team is looking forward to the next stage of our development.”
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