UK's Hostmore plunges after dropping plan to buy pub chain TGI Fridays
09/09/2024 08:39
** Shares of Hostmore MOREH.L plunge more than 70% to a
record low of 2.80p, stock top pct loser across London
** British restaurant operator says it has dropped plans to
buy pub chain TGI Fridays after it was removed as the manager of
TGIF Funding, which owns the right to collect royalties from the
TGI Friday franchise
** Co, which operates TGI Fridays in the UK via its unit,
Thursdays (UK), also says the sale of its corporate stores is
expected to be completed in September, albeit at a lower value
than the loans held by Thursdays
** Including session's losses, stock down about 88% YTD
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))