The losses at TCG included an impairment charge of £27.5m. Tattershall restructured at the start of its current financial year, transferring 114 of its pubs to new legal entities covering distint market segments - Bars, Inns, Pubs and Taverns. TCG Acquisitions is left to run 36 of the original sites in the wake of the restructure.
A company statement said: “This new structure is proving to be operationally effective giving better management focus on each market segment. “The operating loss from continuing operations for the year was £3.4m (2007: £1.8m). “During the year the company has benefited from the waiver by group companies of debt totalling £46.7m.” During its most recent financial year, the company completed trhe refurbishment of 17 sites and completed the planned disposal of six sites.
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http://www.morningadvertiser.co.uk/news.ma/article/83720
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