Harvester owner to raise £350m from ‘Sandy Lane set’

Mitchells & Butlers came close to breaching terms of debts on back of Covid crisis

The owner of Harvester restaurants and Nicholson’s pubs plans to raise £350m from a group of tycoons known as the “Sandy Lane set” after it came close to breaching the terms on its debts.

Mitchells & Butlers said it had agreed the equity raise with three investment holding companies as part of a £500m rescue package that also included a £150m three-year loan facility.

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