Future will be ‘challenging’
8:47am Friday 10th October 2008
THE owner of bars including The Living Room said yesterday current like-for-like sales were running 7.4 per cent lower due to the ‘‘wider economic malaise’’.
Premium Bars and Restaurants, which is relocating its headquarters from Newcastle to Manchester, reported underlying losses of £900,000 for the year to June 30.
The bottom-line figure widened to £21.4m following a review of property valuations.
The company has 48 bars, restaurants and clubs in the UK as well as hotels in Newcastle and Whitley Bay.
Chairman Mark Jones, predicted the new financial year would be just as challenging.
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