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Orchid to buy Premium Bars and Restaurants
By Luke Tuchscherer
Premium Bars and Restaurants, the Hale-based pub chain that went into administration in August, may be sold to The Orchid Group within six weeks.
Premium’s administrator, BDO Stoy Hayward, confirmed that talks were taking place with The Orchid Group – which incidentally was saved from administration following a management buyout last December.
Premium operates the upmarket Living Room, Prohibition Bar & Grill and Bel & The Dragon chains. Its lenders rejected a £40m bid from the Reuben Brothers in August, which led to the firm being put in administration.
The Orchard Group, which boasts more than 250 sites, is backed by the private equity group GI Partners.
Premium Bars and Restaurants, the Hale-based pub chain that went into administration in August, may be sold to The Orchid Group within six weeks.
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