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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 17/12/2009 11:58 by mickthesnitch seems pbr assets now all sold,anyone know how much for? |
Posted at 12/11/2009 00:17 by lbo Orchid 'to buy PBR on 30 November' |
Posted at 04/10/2009 08:37 by timbo003 It looks like there will be MBO or pre-pack and that RBS are going to appoint another pub/bar company to run PBR. |
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 16/8/2009 12:16 by jeffian Ah, the dangers of believing rich men are any cleverer than the rest of us!"TheCleaner - 19 Sep'06 - 08:05 - 542 of 579 I like what they call excellent cashflow. £6m cash outflow before financing. The only reason they kept their head above water is via £10m new financing. These people are liars and wouldn't touch it with a barge pole. LBO - 19 Sep'06 - 10:27 - 543 of 579 Well thats why your the cleaner and why the Reubens are millionaires! jeffian - 19 Sep'06 - 11:02 - 544 of 579 edit Slightly less millions in this one than they started with. Who knows about their longer-term strategy, but their timing isn't great: LBO - 19 Sep'06 - 12:01 - 545 of 579 Their record speaks for itself. But hey! thats why they make the serious money and the rest of the fools post on advfn wishing they could make any money. I suspect we will see their "strategy" soon" August 16, 2009 David and Simon Reuben furious as the banks call time The billionaire brothers face big losses at Premium Bars I suspect the only difference between them and "the rest of the fools (who) post on advfn wishing they could make any money" is that they can afford the loss! |
Posted at 22/5/2009 10:28 by jeffian This was entirely foreseeable, timbo. I posted this on the ULG (former name of PBR) thread 2 1/2 years ago when the Reubens were being touted as the saviours of the company. "jeffian - 19 Oct'06 - 16:12 - 550 of 579 edit .........To those who think that the presence of rich men and 'active funds' on the shareholders' register signifies untapped value for all shareholders, have a look at EUC (Peter Gylenhammer played the part of the Reuben Brothers there). Unless you know the agenda of these people and understand their end-game, it's a dangerous game to play. For example, one might be relaxed about paying 250/share for a 29.9% stake if it put you in pole position to pick up the rest for next to nothing. "They are different to you and me, the rich" (misquote, probably!); they are in this for themselves and certainly will not be looking out for the interests of other shareholders." |
Posted at 06/4/2009 17:25 by jeffian Sorry, petlover, absolutely no idea. I haven't looked at it in a long time. All I would say is 'probably nowhere near what they're carried in the books at'. When it was Ultimate Leisure, the attraction was that all its properties were freeholds. When it became PBR and expanded by buying Bel & Dragon and Living Room chains etc., it picked up a lot of leaseholds. Leases are a nightmare in a falling property market -- they can actually have negative value (i.e. you may have to pay someone to take them off your hands) and the 'asset value' is invariably tied up in fixtures and fittings which normally have to be written off in a disposal. It was the leases which killed Surrey Free Inns (SUF).Regards, Ian |
Posted at 06/4/2009 15:23 by jeffian I'm slightly out of touch with this one but if the Reuben brothers still hold their stake there may be a bit of cat-and-mouse going on with the bankers. When PBR was called Ultimate Leisure, the Reubens built a stake of 29.9% at around 270p/share and they subsequently raised this to 38% via a Placing of new shares at 169p. I think the average cost of their total holding was around 217p. Unless there really is no equity value left here and the Reubens are prepared to walk away from their investment, the bank will be trying to get them to put in more equity and the Reubens will be trying to resist without pushing the bank into foreclosure or a dilutive debt-equity swap. Therefore, something may yet come out of this (though I fear not) but in that case it will either be the bank or the Reubens who come out on top with little left for any other shareholders IMHO.Regards, Ian |
Posted at 16/2/2009 08:02 by tjs2 Premium Bars & Restaurants (PBR), the troubled operator of Living Room, is understood to have appointed a chief restructuring officer - tasked with creating a viable business plan for the group.Gavin Gracie, a former chief executive of Zenith Hygiene Group and former chief operating officer of the English Hockey Association, has been asked to identify ways the business can address its £40m debts. It is thought that the lending banks to PBR, led by Royal Bank of Scotland, will make a decision over whether to continue supporting the company based on Gracie's conclusions. A chartered accountant who qualified with Arthur Young in Cape Town, Gracie moved to the UK in 1989. Groups he has worked with also include Hunting Aviation and Shanks, and he has a track record in corporate recovery. Shares in PBR were suspended from Aim after the group missed a six-month deadline for filing accounts, which were delayed because of ongoing discussions with its banks over a refinancing of the business. Its £40m debts are thought to equate to between eight and 10 times underlying profits. |
Posted at 17/12/2008 10:38 by jeffian Oh, dear!"RNS Number : 2832K Premium Bars & Restaurants PLC 17 December 2008 PREMIUM BARS & RESTAURANTS PLC ('PBR' or the 'Company') Update The Company announced on 9 October 2008 that it was in discussions with its banks to renew its banking facilities. To date PBR has not obtained a renewal of its facilities; however the Company's banks have continued to support the business. PBR confirms that following further discussions with its banks, the banks' preferred route is for PBR to raise additional funding in order to meet its short term cash requirements. The Company also confirms that it is in discussions with its key stakeholders to procure sufficient additional funding to meet such short term cash requirements. The board are confident that these discussions will result in additional funding being forthcoming over the next few weeks, and will update shareholders in due course. However, if such additional funding is not secured, the board cannot be certain of the continuing support of the Company's banks." |
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