Sports Café, the large-scale bar concept, has announced that it is discussions with its bankers over an extension to its banking facilities, after poor Christmas trading and a slow start to 2008.
The group said that while its bank remained supportive there was no guarantee that this would continue and that the extension to the banking facilities would be agreed.
News of the talks saw the company’s shares fall 55% to close at 3.5p.
Last September, the group reported that trading for the year would fall below market expectations.
The company said that although trading in the four months to the end of October were ahead of the previous year, forward Christmas bookings were good and the effect of the smoking ban had been “relatively benign”, it would “fall short of previous market expectations”.
