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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Prem. Bar & Res | PBR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.75 | 1.75 |
| Top Posts |
|---|
Posted at 13/9/2009 10:54 by lbo Robert Dyas debt-for-equity swap gives lenders Allied Irish and Lloyds Banking Group majority stakeRobert Dyas, the hardware chain, has secured its future after agreeing a debt-for-equity swap that hands a majority stake in the business to its lenders. A Business Profile of the Barclay Brothers Administrators of Premium Bars and Restaurants (PBR) say they are in "advanced talks" with several potential buyers of the company's assets. Dermot Power, business restructuring partner at BDO Stoy Hayward, said: "I do anticipate that there will be a flurry of activity next week. "All the names in the Premium Bars and Restaurants portfolio are well known on high streets throughout Britain, and they have been attracting customers as ever. "What has interested me is the amount of interest I've received from entrepreneurs who have been interested in individual sites. But I anticipate that the company will not be split up in this way. "We are currently in discussions with several interested parties and are confident of securing a sale of the business. "All of the names in the PBR portfolio are well known on high streets throughout the UK and Ireland. The outlets continue to attract loyalty from their wide customer base. "However, the sudden and sharp economic downturn, and subsequent recession, has impacted on the usually high disposable income of the group's target market. "These customers have begun to select the weekend for their discretionary spend. As a result this shift has impacted significantly on a business with high fixed overheads." The company's brands include Living Room, Prohibition and the Bel & Dragon brands. |
Posted at 29/1/2009 11:23 by jeffian That's what several investors said about SUF before it was suspended then collapsed. Make sure you completely understand the "asset base" before making any decisions based on published NAV. Depends on the terms (or if!) it comes out of suspension, but buying this sort of think is equivalent to going down the doggy-track, spotting a nice 300/1 odds and thinking 'I'll have a bit of that'. |
Posted at 21/10/2008 21:00 by lbo Chairman quits Premium BarsWho owns Premium Bars? Who owns Premium Bars? That's an interesting question because there's little clarity about the shareholder base. The ownership puzzle has certainly contributed to the sharp fall in the share price in 2008. The company's website shows that the Reuben Brothers hold a third of the shares, bankrupt Dawnay Day 29 per cent (but half may have been bought by a Swiss entrepreneur) while Bear Sterns International Trading has 8 per cent. The holdings are difficult to identify because some are held via CFDs. Recently, Aim-traded tech investor Ora Capital (close to the Reuben Brothers) has acquired an 8 per cent 'call option money' stake via CFDs. Premium's 2007-08 loss included a £17.85m property impairment. This year's trading will be tough but cost savings are being pushed through. |
Posted at 20/7/2008 12:42 by lbo I wonder if the DD administrators had aything to with the CFD sale other then causing it to happen. It was the CFD provider who failed to get the money on a margin call from the administrator and were then entitled to sell the shares to whoever they wanted at any price.The actual DD holding in PBR shares will be a different matter as it will be controlled by the administrators who will be seeking interested parties and the best price. If the Reubens were to buy it then it would trigger a bid so perhaps another reason why they could not move on the sudden sale of the CFD shares if they were even offered them. Looks like the stakes in Dawney Day Travevia and Dawney Day Capathian were snapped up by some big investors like the Rothchilds and then the share prices rallied as many realised the buyers were getting once off bargains from forced sellers. I also wonder if the Reubens were happy to support a rights issue at £1.69 then you have to wonder would they be prepared to bid now with the price down to 35p by a sudden forced CFD sale? Mkt Cap is now £13.75m. Enterprise Value £50m Worst case Net Asset Value has to be at least £30m (75p per share) Going on the interims results (allowing for any fall in LFL being offset by the busy Christmas trade in 2nd half): Full year should be Turnover £70m EBITDA £8m So the trading business has a value alone of £40m (5 x EBITDA) and thats putting no value on the net assets of £30m |
Posted at 18/6/2008 10:04 by jeffian From today's Independent investment column:"Premium Bars and Restaurants Our view: Sell Share price: 104.5p (-23p) For some time now, those in a number of sectors, and particularly the restaurant industry, have argued that some consumer markets are less affected by the credit crunch. If that is true, and a decline in restaurants signals the onset of a real economic downturn, then we are all in trouble if yesterday's statement from Premium Bars and Restaurants (PBR) is anything to go by. The top end bar, pub, restaurant and hotel group, which includes the Living Room chain, warned that the market continues to be "very challenging". Annual like-for-like sales are down 5 per cent. The company said it expects full-year numbers, to be published in September, to come in under previous expectations, and the executive chairman, Mark Jones, adds that the firm has switched from trying to maximise revenues, to cost control. The group is also trying to increase its food sales, with Mr Jones saying that things could soon be getting quite serious for bars just offering drinks. Investors reacted as though the group had contracted plague, with the stock falling 18 per cent. Sadly for buyers, this is not a golden buying opportunity. The shares have crashed through the previous year low, and with a constant flow of bad economic news the price will continue to fall. Experts at KBC point out that new Living Room openings in Milton Keynes and Bristol will help profitability, and that the share price should hold up to some extent because the group owns the freehold on much of its estate. Indeed, far better to be with PBR than a group without the safety net of a property base. However, frankly, this is papering over the cracks. The watchers predict that earnings per share will fall to 3.9p next year, from 5.7p. Investors should heed this as a warning: a punt now will lead to losses. Sell." |
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