UK: Whitbread - red in the face - COMMENT (Members)
Whitbread has decided to sell its Pelican restaurants unit, including Bella Pasta and Cafe Rouge. The Pelican division has consistently failed to meet Whitbread's expectations. Instead, the high street has become crowded with rival restaurants, leaving little room for growth. Despite a larger number of restaurants, Whitbread may have trouble convincing buyers to pay as much as it did for the group in 1996.
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