Business
Restructure Proposals
Restructure Proposals.
About this update from Heavitree Brewery Plc
[{"type":"text","content":"\n RNS Number : 1495I Heavitree Brewery PLC 14 November 2008 \n \nHeavitree Brewery PLC ('Heavitree' or the 'Company')\nTrood Lane\nMatford\nExeter\nDevon EX2 8YP\n\n14 November 2008 \n\n\n\n\n Result of Strategic Review \n\n\nThe Company announced on 27 June 2008 that it was conducting a strategic review of its business following the anticipation of a small operating loss for the six-month period to 30 April 2008 and against the backdrop of a prevailing negative industry outlook.\n\nThis review has now been completed and the Heavitree Board announces that it is proposing to implement a re-structuring of its business through the closure of its managed house operation. The proposed changes are likely to affect up to 30 jobs and the Company will now embark on a consultation process with the employees affected.\n\nOver the course of the next few months all of the 20 houses currently under management will transfer to tenancy and/or lease and the search for new tenants/leaseholders is already underway. This process should be completed by the end of April 2009 at which point the tenanted/leased operation will number 84 houses.\n\n \nThe Board has given careful consideration to all the options available before choosing the one which, it believes, should place the Company in the strongest possible position to meet the challenges and opportunities that lie ahead, whilst providing the best foundation for offering sustained profitability and long-term value.\n\nEnds.\n\n\nG J Crocker - Managing Director \n01392 217733\n\nP Keane - Shore Capital and Corporate Limited, Nominated Adviser \n020 7408 4090\n\n\n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END REPGUGQGGUPRGMW \n ","length":4675,"tagName":"div"}]