Mitchells & Butlers, the pub and restaurant operator, has rebuffed preliminary approaches from a number of private equity firms keen to buy its Browns and All Bar One chains.
The approaches come after a strategy review unveiled last month by John Lovering, M&B’s new chairman, which encouraged suitors to believe that the company may consider offers for several concepts outside its six principal brands. But insiders last night rejected the idea that its 14 Browns restaurants and 37 All Bar Ones would be among them.
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