Whitbread launches £1bn fundraising schemepublished at 09:59 British Summer Time 21 May 2020
Katy Lewis
BBC News Online
Bedfordshire based Whitbread, external - which owns Premier Inn - has launched a £1bn fundraising scheme as it expects its hotels and restaurants in the UK to remain closed or operate at low occupancy levels until September.
"Demand recovery is expected to be slow as social distancing restrictions are gradually relaxed," it said.
The company, which has furloughed about 27,000 staff, has revealed plans to raise £1bn through a rights issue, proposing to offer one new share for every two existing shares.