Regent Inns mulling approaches

LONDON (Reuters) - Regent Inns (REGI.L: Quote, Profile, Research) said sales fell 11 percent this year as the smoking ban and falling consumer confidence hit and that it is considering a number of approaches for the company.

The owner of Walkabout sports bars and Jongleurs comedy clubs revealed in January that it had received a number of approaches. In Friday's announcement, it said talks with potential offers were ongoing, but there was no certainty an offer would be made.

Regent shares rose 3 percent to 16.25 pence at 0737 GMT, valuing the company at about 18.4 million pounds.

Recent press reports suggest two of the interested parties are U.S. buyout specialist Sun Capital Partners and British nightclub operator Brook Leisure.

Regent Inns said it continues to be hit by the smoking ban, declining consumer confidence and the recent increase in alcohol duty. The group said it has seen a like-for-like sales decline of 11 percent in the period from 30 December 2007 to 14 May 2008.

"This downturn in sales has principally arisen in Walkabout, whilst Jongleurs has continued to trade robustly," the company said.

Regent's restaurants business, primarily comprising Old Orleans, has seen steadily improving sales since the start of the year, however.

(Reporting by Rhys Jones, editing by Andrew Callus)