Georgica, the vehicle formed by Nick Oppenheim to buy Allied Leisure, has formally announced that its future focus is to be on three divisions – cue sports, burger franchises and leisure.
The former Allied Leisure estate now comprises Georgica Cue Sports, consisting of 162 outlets; Georgica Franchises, operator of 36 Burger King outlets; and Georgica Leisure, which comprises nine bars and nightclubs and nine 10-pin bowling centres. Previously there had been a complex group structure of some 45 different entities.
The company will hold onto the nine outlets left over after the previous management carried out a major disposal programme last year. The bars range from the Buzz Bar in London's Leicester Square to Bar Central in Milton Keynes, Buckinghamshire, Full Moon in Bristol and Tom Peppers in Clacton-on-Sea, Essex.
The news came as Georgica updated its strategic review. It is actively seeking a buyer for its 50% stake in Megabowl so it can concentrate on refurbishing and expanding its estate of snooker clubs and Burger King franchises.
Oppenheim, former vice-chair of Northern Leisure, will remain chief executive of Georgica, while ex-Northern Leisure colleague Peter Marks will oversee running of the core business as deputy chief executive. Marks replaces Neil Goulden, who stepped down from the board last December.
Georgica has slimmed down its three head offices by consolidating into one site in Milton Keynes.
Pre-tax profits for the 23 weeks to December 31 were £884,000. Same outlet sales for the period fell by 0.2% with cue sports being 4.6% higher but franchising coming in 8.1% down and leisure 0.6% lower. Trading since the New Year was disappointing at first but is now improving, said the company.
The former Allied Leisure estate now comprises Georgica Cue Sports, consisting of 162 outlets; Georgica Franchises, operator of 36 Burger King outlets; and Georgica Leisure, which comprises nine bars and nightclubs and nine 10-pin bowling centres. Previously there had been a complex group structure of some 45 different entities.
The company will hold onto the nine outlets left over after the previous management carried out a major disposal programme last year. The bars range from the Buzz Bar in London's Leicester Square to Bar Central in Milton Keynes, Buckinghamshire, Full Moon in Bristol and Tom Peppers in Clacton-on-Sea, Essex.
The news came as Georgica updated its strategic review. It is actively seeking a buyer for its 50% stake in Megabowl so it can concentrate on refurbishing and expanding its estate of snooker clubs and Burger King franchises.
Oppenheim, former vice-chair of Northern Leisure, will remain chief executive of Georgica, while ex-Northern Leisure colleague Peter Marks will oversee running of the core business as deputy chief executive. Marks replaces Neil Goulden, who stepped down from the board last December.
Georgica has slimmed down its three head offices by consolidating into one site in Milton Keynes.
Pre-tax profits for the 23 weeks to December 31 were £884,000. Same outlet sales for the period fell by 0.2% with cue sports being 4.6% higher but franchising coming in 8.1% down and leisure 0.6% lower. Trading since the New Year was disappointing at first but is now improving, said the company.
