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Old Monk Company
Old Monk's administrators have sold three pubs in Sheffield, Cardiff and Birmingham to Springbok Bars, a new company set up by Old Monk's former chairman.
Old Monk's administrators have agreed to sell seven pubs to the Barracuda Group for £7.8m, and are now looking to sell the remaining 17 sites.
Old Monk has sold nine London-based pubs to Puzzle Pub Company for £3.5m, in order to reduce debt.
Old Monk is selling four unbranded pub-restaurants to a management buy-out for £1.8m.
Old Monk Company is planning to expand its chain of South African-themed Springbok bars from six to at least 40.
Old Monk Company is planning to focus on the development of its chain of Springbok sports bars, having broken off talks to acquire the Slug & Lettuce chain of 32 outlets.
Old Monk Company is planning to open about five more Springbok sports bars later this year, following the success of its Leeds outlet.