PRESS DIGEST - British business - March 12

Tue Mar 11, 2008 11:38pm EDT

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The Times

PRIVATE EQUITY FIRMS COOK UP OFFERS FOR CLAPHAM HOUSE

Clapham House Group (CPH.L: Quote, Profile, Research, Stock Buzz) has received private equity approaches both for its individual brands and the company as a whole. The interest in the restaurant operator behind the Gourmet Burger Kitchen and Tootsies chains follows a profit warning in December. The company, which is being advised by Noble & Company and Investec, has attracted interest from at least three private equity-backed management teams for its Tootsies brand worth up to 20 million pounds.

BEDLAM BOSS HOPES FOR END TO MADNESS

Bedlam Asset Management slipped into a loss last year after various exceptional expenses, such as moving office, and salaries have been pruned drastically -- down 28 percent. Jonathan Compton, founder and managing director, believes the current credit crisis is probably the last he will work through, as "it is likely to be so bruising that a repeat of the massive idiocy in financial markets won't happen again until a new generation has taken over".

ANGRY AIRLINES CALL FOR BREAK-UP OF BAA

Britain's biggest airlines called for the dismantling of BAA (FER.MC: Quote, Profile, Research, Stock Buzz) and the Civil Aviation Authority. In a rare show of unity, the heads of EasyJet (EZJ.L: Quote, Profile, Research, Stock Buzz), bmi, Ryanair (RYA.I: Quote, Profile, Research, Stock Buzz) and Virgin Atlantic [VA.UL] publicly criticised the CAA and its decision to allow BAA to put up landing charges at Heathrow and Gatwick airports. Additionally, British Airways (BAY.L: Quote, Profile, Research, Stock Buzz) urged an overhaul of the regulatory system.