Its tough times at Quadrant Private Equity’s Pacific Hunter hospitality empire as it counts down to Friday’s June 30 deadline to refinance its considerable debt load.
As reported by Street Talk in April, Pacific Hunter has already been undertaking a portfolio review to weed out loss-making leases. Now, it seems one of the two major lenders, Korea’s Shinhan Bank, is moving to distance itself from Pacific Concepts, the part of the business which houses Fratelli Fresh, El Camino Cantina, The Bavarian, Munich Brahaus, Bar Patron and The Argyle.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
