BYO could buy its own

Managers at Bristol-based BYO Restaurants are hopeful of mounting a successful buy-out of the chain after its shareholders put the group up for sale.

 

The company said that in order to allow shareholders to realise their investment, it had been decided to seek a purchaser.

 

The restaurants are being offered for sale through agent Christie & Co, either individually or as a group.

 

David Wheadon, managing director of BYO Restuarants, said that management was “very interested” in buying the stock.

 

He said BYO had been put on the open market so that shareholders could be sure they were getting the best possible return on their investment.

 

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	For sale: Hullaballoos, Cardiff

The management team’s faith in retaining the restaurants is reflected in the fact that they will start taking Christmas bookings from 3 September, despite asking for offers for the portfolio to be submitted by 11 September.

 

Combined annual rent for the restaurants is £195,950. Three of the properties are freehold.

 

BYO Restaurants was formed in 1994 and began as a single, unlicensed Bring Your Own wine restaurant. The company operates Hullaballoos and Muset restaurants in Bristol, Bath, Cardiff and London.