• Essenden plans spending spree

Hotel acquisitions could be in the sights of UK AIM listed Essenden, which is tapping investors for up to GBP100m in equity for expansion. The company, which owns the Tenpin bowling chain, will be targeting complementary multisite leisure businesses in the hotel, restaurant, gaming and fitness sectors, reports the London Times.

Essenden has been turned around from 2011, when it entered a company voluntary arrangement with shares languishing at GBP0.06. Loan notes have been converted into shares, with major investors backing the expansion plans.

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