Bank Restaurant Group has agreed to a reverse takeover deal with the Individual Restaurant Company (IRC).
IRC owns the Piccolino Italian chain of restaurants. Bank is expected to be renamed as the Individual Restaurant Company.
The enlarged group will have more than 20 restaurants across the UK. It believes there could be more than 100 sites suitable for the Piccolino format, which currently has 12 outlets.
References: Financial Times 28/11/06 page 22, The Times 28/11/06 page 46 (Need to know), page 48, The Daily Telegraph 28/11/06 page B2
