TWENTY staff at the Slug and Lettuce in York were today relieved to learn that their pub-restaurant is part of the chain which has been bought out of administration by property tycoon Robert Tchenguiz.
He has acquired for his Laurel Pub Company a further 98 pubs -- two- thirds of the SFI Group which operates the Slug and Lettuce chain. The deal reportedly cost him £80 million.
There are 52 Slug and Lettuce pubs which will remain in administration, but the Back Swinegate pub-restaurant, which blazed the trail of trendy new pubs in York when it opened in 1998, will not be among them.
SFI was placed in the hands of administrators PricewaterhouseCoopers after it was delisted from the Stock Exchange in April 2003 with a £20 million hole in its accounts.
Updated: 09:43 Monday, June 27, 2005
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article