Lion stays mum on pub chain collapse

Lion Nathan is keeping quiet about its exposure to the collapse of New Zealand’s biggest pub chain.

A group of companies under the CEA banner went into receivership last week.

CEA owns 20 bars and clubs in Wellington and the South Island, including the Shooters’ bars in Christchurch, Nelson and Wellington and the Holy Grail Sports Bar in central Christchurch.

It is 50% owned by Australian resident Jugeshinder Singh; the other half is split into three tranches, all of which are owned by companies associated with Australian private equity firm Investec Wentworth.

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