Information  X 
Enter a valid email address

Perthshire Leisure (REDT)

  Print      Mail a friend       Annual reports

Friday 26 November, 1999

Perthshire Leisure

'ID Bar' Acquired in Chalk Farm, London

Perthshire Leisure PLC
26 November 1999

                 PERTHSHIRE LEISURE plc
The  Company is pleased to announce that it has  acquired
the  lease  for  a  bar in Chalk Farm, London,  currently
trading  as  'ID  Bar',  for  a  total  consideration  of
£165,000, payable in cash.

As  stated in the interim results announced on 19 October
1999,  the Company have been in negotiations relating  to
the acquisition of leases of three additional sites.  The
Chalk  Farm  site, which is to be rebranded 'Lounge-jing'
after refurbishment, is the first of these three sites to
be acquired.

Commenting  on the acquisition, Simon Richards,  Chairman
said  'We are delighted to have acquired this site, which
we  believe, once the refurbishment  has been  completed,
will  enhance  the 'Lounge-jing' brand and is  the  first
step in our expansion plans.

The  benefits  of re-branding Legends as  Lounge-jing  at
Legends  are  starting to become evident and turnover  is
picking up in all areas.  Confirmed bookings for December
already show a very substantial increase over the figures
for  last  year  and  we  face the Millennium  with  ever
increasing confidence.

Our  new  late-night bar, Abigail's Party,  has  achieved
considerable  initial  success and continues  to  receive
very  positive comments both from our customers and  from
the   press.   An  application  has  been  made  to   the
Westminster  City  Council to increase capacity  from  99
guests  to  125  and  if  this  is  successful,   as   we
confidently  expect, we shall be able to benefit  further
from the strong brand that has been created'.


Perthshire Leisure plc
Simon  Richards, Chairman                01189 776 703

Seymour  Pierce  Limited                 0171 648 8700
Mark Percy

Boswell  City Financial  PR              0171 583 2001
Glenda Boswell                           0468 235 735