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Luminar denies MBO talk
By Tom Walker
Nightclub owner Luminar has rubbished rumours that it is preparing for a management buy-out led by chief executive Stephen Thomas.
In a statement to the London Stock Exchange, the company said that while informal talks of strategic plans occur time to time, “there are no such discussions of this nature currently and there is no intention by the board to pursue any such transaction at this time”.
The statement comes just days after Luminar offloaded 26 non-core properties for a total loss of around £10m.
The 26 sites were earmarked for a cull by Luminar after they generated pre-tax losses of £1.8m last year.
Nightclub owner Luminar has rubbished rumours that it is preparing for a management buy-out led by chief executive Stephen Thomas.
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