News > Business

Regent Inns buys 31 Old Orleans restaurants from Punch Taverns

By BigHospitality Writer , 30-Aug-2006

Related topics: Business

Regent Inns has bought 31 Old Orleans restaurants from Punch Taverns for £26million. Of the estate, 27 are short leasehold. The cash proceeds from the sale will be used to reduce debt. Chief Executive of Punch Taverns, Giles Thorley, said, ...

Regent Inns has bought 31 Old Orleans restaurants from Punch Taverns for £26million.

Of the estate, 27 are short leasehold. The cash proceeds from the sale will be used to reduce debt.

Chief Executive of Punch Taverns, Giles Thorley, said, "The sale of Old Orleans follows a successful and active auction process which we launched in May of this year. The transaction is in line with our strategy to simplify the managed-house business following the acquisition of Spirit in January 2006."

The transaction is expected to complete in September after approval from Regent Inns' shareholders.

BigHighlights

60-Second Skill: Pouring champagne

60-Second Skill: Pouring champagne

As demonstrated at the Moet UK Sommelier of the Year competition, champagne pouring requires skills and knowledge....

Mark Poynton: Pearls of Wisdom

Mark Poynton: Pearls of Wisdom

The British chef-patron of the Michelin-starred Alimentum and star of Great British Menu Mark Poynton talks about...

Interview with Glendola Leisure's Alexander Salussolia
Small Talk

Alexander Salussolia on Silk & Grain, market niches and nurturing future talent

Managing director of Glendola Leisure Alexander Salussolia joined the company in 1992 as an area manager, before...

60-Second Skill: Using #foodporn to your advantage

60-Second Skill: Using #foodporn to your advantage

Customers posting pictures of your food on social media is a trend you can't escape, but by...

Hospitality openings: July 2014

Hospitality openings: July 2014

Our latest round of up of the hottest hospitality openings includes Dev Biswal's new Ambrette in Canterbury, Wahaca's...

Gallery: Belsfield Hotel re-launches with Laura Ashley interiors

Gallery: Belsfield Hotel re-launches with Laura Ashley interiors

Laura Ashley has partnered with the Belsfield Hotel in the Lake District, seeing it undergo a complete...

Find us on Facebook

Digital Edition - Restaurant Magazine

Access to the Restaurant Magazine digital edition