Auction of Comptoir kitchen CPU fetches £2.9m

Comptoir Libanais 1

Comptoir Group has sold its freehold central processing unit (CPU) following a property auction earlier this week.

The sale price was £2.69m before costs associated with the transaction, which should mean the Lebanese restaurant chain has raised the £2m that it was targeting once all bills have been settled.

Completion of the deal is expected before the end of the current calendar year.

As revealed by FEJ earlier this month, the company announced the sale and leaseback plan as part of a move to strengthen its resources.

It intends to use the funds from the sale for general working capital purposes and to assess further new restaurant opportunities.

Figures for the first six months of the year show that Comptoir generated adjusted EBITDA of £200,000 on sales of £13.1m.

Comptoir currently owns and operates 23 restaurants, with a further two franchise sites. Earlier this week it launched its first international site, in Utrecht, Holland.

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