Nick Graham has left Orchid Group as its property director to consult Prestbury, the property group, which recently acquired a stake in a new company formed to operate a number of Luminar’s former entertainment division sites.
Graham, who carried out similar property roles at JD Wetherspoon, Brewers Fayre, Yates and Laurel, leaves Orchid after only three months.
He has been replaced by Paul Kotrys, formerly of Spirit Group and Scottish & Newcastle.
Luminar announced last week that it had sold a total of 67 units in its entertainment division, including 54 Chicago Rock Cafés and 13 Jumpin Jaks and 31 non-core units in a deal worth £95.8m.
Twenty of the freehold sites and one long leasehold property were sold to a new company called NewCo, in which Prestbury has a 20% stake, in a non-recourse sale and leaseback deal worth £76.8m.
M&C Report believes that this new company will eventually be called 3D Entertainment.
