Buyers line up for Tootsies

26 January 2006
Buyers line up for Tootsies

Struggling Urban Dining, which announced in November it was abandoning its strategy of consolidation, has received several approaches for the business.

The Tootsies restaurant owner, which appointed BDO Stoy Hayward to carry out a review at the time of the announcement last year, said indicative offers to purchase the company had been made by a number of parties.

"A small number of these interested parties will be invited to participate in more detailed discussions," the company said in a statement today.

Urban Dining said the discussions may or may not result in an offer being made

The company's shopping centre restaurants performed well in the five week period to 1 January 2006, with like-for-like sales up 7.2% year-on-year.

However, weak trading and a 6.5% like-for-like sales drop at older Tootsies meant group like-for-like sales performance remained broadly inline with last year's.

Urban Dining added that trading at its six new restaurants opened since September 2005 had been encouraging.

Urban Dining set to sell >>

Urban Dining considers selling up >>

By Chris Druce

Get your copy of Caterer and Hotelkeeper every week - click here to subscribe and save 25%.

Sudoku Join the craze and play Sudoku online!
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking