Regent Inns sees sales drop by 13%
Published: 14 November, 2008
Regent Inns, the UK pub group, has reported a 13% fall in like-for-like sales.
Regent Inns, the UK pub group, has reported a 13% fall in like-for-like sales.
The figure, for the 15 weeks to 12 October 2008, came against strong trading during the comparable period last year due to the Rugby World Cup.
Regent, owner of the Walkabout brand, said substantial cost savings had been implemented including a major restructure of its head office in July.
Capital expenditure during the current financial year would be no more than £5m, it added.
Regent said its borrowing costs had increased substantially but that the banks backing the group were being "very supportive".
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