Private equity backers call time on bar chain The Alchemist

Private equity backers call time on bar chain The Alchemist

Palatine, which bought the cocktail bar operator ten years ago, is working with Pura Advisory on a sale of the business amid tough industry-wide trading conditions, Sky News learns.

Private Equity Backers Call Time On Bar Chain The Alchemist - Great Yorkshire Radio

Sky News has learnt that Palatine, which has owned The Alchemist since 2015, is working with advisers on an auction of the company. The Alchemist, which has withstood a tough economic environment exacerbated by tax hikes earlier this year, trades from 23 sites in the UK and one in Germany. It employs close to 1,000 staff. City sources said the sale process was being conducted by Pura Advisory. The chain trades in locations including Birmingham, …