JUST watching for now.

Excellent - i'm hoping for more from this! cheers

is this worth buying yet?

NO TRY JDW. OR doit. Not for me yet.

All bids off now...4.75p now

Regent Inns says all offer discussions have ceased UPDATE
AFX


(Adds detail from statement)

LONDON (Thomson Financial) - Regent Inns Plc. said all offer discussions for the company have now ceased as potential buyers have found it difficult to raise financing in the current market.

The late-night bars operator said stabilising sales trends at its Walkabout chain is now a key medium-term objective, as is maximising cash flow from existing operations and reducing debt. The group added the very difficult trading environment throughout the second half has led to a substantial reduction in like-for-like sales at its entertainment division and said it expects full-year pretax profit before exceptional items to be minimal.

Regent Inns also announced executive chairman Bob Ivell will step into a non-executive chairman role, with finance director John Leslie becoming chief executive and commercial director Simon Kaye becoming chief operating officer.

Russell Scott, managing director for operations, will leave the group with immediate effect. The appointment of a new finance director is expected to be announced shortly, it said.

The group, which also owns Jongleurs comedy clubs and the Old Orleans restaurant chain, said it will embark on a plan to reduce costs further at head office level and venue level, adding it will progress sale and leaseback plans for a selection of freehold properties.

Regent Inns said it will carry out a review of its property portfolio and will dispose of non-core assets. It added it will minimise the impact of poorly performing leaseholds by disposing of individual sites where this is considered to be in the best interests of the business as a whole.

Regent Inns said these measures will enable it to reduce borrowings substantially. It expects to announce certain amendments to banking arrangements in conjunction with sale and leaseback plans.

A buy at 3p !