Lap-dancing clubs sale 'imminent'
12 April 2012
HIGH Street pubs chain SFI has reached a delicate stage in the lengthy sale of its For Your Eyes Only lap-dancing clubs.
'They hope it is imminent,' said a source. SFI is selling the five clubs piecemeal after failing to get a good price for the group.
After buying the Slug and Lettuce and Parisa chains, SFI is trying to reduce its £120m debt. It will rein in expansion from 46 new openings last year to 12 this year, prompting some analysts to trim profit forecasts.
Boss Andrew Latham revealed strong trading, up 5.6% boosted by the World Cup.
Full-year profits rose from £15m to £19.5m. Dividends are up to 2.87p. Shares fell 6 1/2p to 178 1/2p.
