Monday, December 15, 2008

James there was an earlier article about Orchid 'restructuring'. I made a little post on it with a quote from the article:

"Orchid was formed two years ago when US private equity firm GI Partners bought 290 ex-Spirit pubs - which formed the Orchid estate - from Punch Taverns for £571m."

Just a lay person's observation but that means they paid £1,968,965.55 - or almost two million quids - for each pub. Isn't that a tad of a lot even in the heady world of dizzying pubco valuations we've come to know and understand a little of ever recent years.

And they wee talking to inslvency people about things. Why would that be? Is it possible the doo doo is so deep no one can get out of it so they all have to walk in a bit deeper?

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