Herald shows its acquisitive Mood
by Tony Halstead and The PMA Team
Lancashire-based Herald Inns & Bars, a company linked to leisure entrepreneur Trevor Hemmings, has acquired the eight-strong Mood chain of late-night venues for an undisclosed sum.
The Mood chain, where turnover averages £38,000 per site each week, was previously operated by Bakersfield Entertainment, which went into administrative receivership in September.
The eight bars seven leaseholds and one freehold will join a larger chain of Brannigans bars and more traditional former Valleyhill pubs in the company's 40-strong managed estate.
Non-executive chairman Brian King said Mood was a perfect match to Brannigans' outlets currently enjoying a "strong" trading performance in the volatile high street pub market sector.
"The Mood outlets are slightly more food-orientated than Brannigans and sport a softer interior decor but essentially we see them as an excellent match.
"We will be looking to develop the business in all the new outlets in the same way we have been able to advance sales in Brannigans," King said.
"The bars are sound trading outlets in key locations and enable us to add just a little bit of diversity to our late-night venues."
King said Mood bars would continue to trade under the same name although a small amount of brand interchange was possible. The company said it is seeking more new venues either by individual or small package acquisitions.
Herald Inns & Bars, based at Eccleston near Chorley, is a private company financed by the Bank of Scotland. Mood bars operate in Carlisle, Doncaster, Edinburgh, Milton Keynes, Newcastle, Preston and Rugby.
