Stringfellow to float

By THIS IS MONEY
Updated:

 

Nightclub owner Peter Stringfellow is planning a spectacular return to the financial bigtime with a £20 million flotation. The 59-year-old playboy will use the cash to fund expansion of Stringfellows-branded bars and nightclubs into 'every major town and city in Britain'.

He also plans to open six venues based on his Cabaret of Angels format. Each will feature 120 semi-naked girl dancers cavorting in front of customers encouraging them to slip cash into their underwear.

A London-based Hotel Stringfellow where guests can relax in a 'luxurious, sensual setting' is also on the agenda.

Stringfellows Club in London's Covent Garden makes annual profits of more than £1 million. From his yacht in Majorca on Friday, Stringfellow said: 'I've got plc aspirations. We're set to float in the second half of 2000.'

But some analysts are aghast. 'I can't believe he's considering something so naff,' said one. If Stringfellow wins City support, it will seal an amazing comeback. A staunch Thatcherite, he enjoyed incredible success in the early Eighties, but overseas expansion and the Nineties recession damaged his empire.

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