Luminar says no bid for Regent Inns

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Date: Monday 21 Jul 2008

LONDON (ShareCast) - Nightclub owner Luminar has denied speculation it has made an informal bid for pub group and fellow struggler Regent Inns.

The owner of the Liquid and Oceana chains said it is actively pursuing a number of options for the sale of its 49% stake in 3D Entertainment (3DE) and is disappointed that Walkabout firm Regent won’t talk about a possible tie up.

“There is no certainty that any discussions between 3DE and Regent Inns would lead to an offer being made for Regent Inns,” said Luminar.

Last week, it blamed disruption from a series of refits, the weak economy, the Euro 2008 football tournament and even the weather for a sharp fall in sales.

Like for like sales in the 19 weeks to 16 July fell 2.4% at its 73 nightclubs, while growth at its branded outlets dropped to 1.9% from over 14% a year ago.

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