Bob Dawson, Orchid’s newly appointed Head of Operations for Ultimate Leisure re-opening the Moseley Street office in Newcastle.

1,500 jobs saved as Orchid acquires Premium Bars & Restaurants

15th December 2009, 3:23pm

The Orchid Group, the UK’s largest independent managed pub and restaurant operator, has announced that it has completed the acquisition of 43 businesses from Premium Bars & Restaurants plc who fell into administration.

The acquisition includes The Living Room and Prohibition brands as well as a number of bars, restaurants and nightclubs across the country, employing over 1,500 people.

Over the next 12 months, Orchid intends to roll out a £3 million capital investment programme across the estate, further leveraging its operating disciplines and maximising the skill sets and talents of the acquired businesses.

The new sites take the number of pubs, bars and restaurants within the Orchid portfolio to 292, further demonstrating the Group's commitment to growth. With an active strategy for acquiring distressed assets, this is Orchid's second deal this year after taking Bar Room Bar's profitable sites out of administration six months ago.

The move will also see Orchid re-open Premium Bars & Restaurants' Newcastle Head Office with eight full time staff members based at the Moseley Street address.

Rufus Hall, CEO explained: "This purchase further cements Orchid's commitment to growth, and we are delighted to have completed what is an important development for the business. The acquisition of Premium Bars & Restaurants is an exciting move for us with their well placed City Centre locations. This deal will save hundreds of jobs and also provide significant investment right across the UK."

Premium Bars & Restaurants plc was placed in administration in August 2009 after shareholders the Reuben brothers failed to buy the business after bidding around £50m.

Related Articles:

• 27 Jul 2010 - The Living Room gets glam new look – as brand strive for sterling position on high street

Click here to submit a comment!

Have your say!

To comment on this article, simply enter your name and email and send us your views. Please note that your comment will appear publicly below this article once it has been processed. For enquiries please email info@eatoutmagazine.co.uk.