BUZZ-UK's Hostmore plunges after dropping plan to buy pub chain TGI Fridays

Reuters09-09

** Shares of Hostmore plunge more than 70% to a record low of 2.80p, stock top pct loser across London

** British restaurant operator says it has dropped plans to buy pub chain TGI Fridays after it was removed as the manager of TGIF Funding, which owns the right to collect royalties from the TGI Friday franchise

** Co, which operates TGI Fridays in the UK via its unit, Thursdays $(UK)$, also says the sale of its corporate stores is expected to be completed in September, albeit at a lower value than the loans held by Thursdays

** Including session's losses, stock down about 88% YTD

(Reporting by Aby Jose Koilparambil in Bengaluru)

((abyjose.koilparambil@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment