Brighton Pier Group Plans AIM Delisting Amid Falling Shares

Brighton Pier Group has announced plans to delist from London's AIM market and transition to a private company, citing persistent challenging trading conditions that have worsened since the pandemic. The company, which operates Brighton Palace Pier and several bars and mini-golf venues, has faced significant financial pressures from rising costs, changes in consumer behavior, and adverse weather, leading to a drop in its share price by nearly 70%. A shareholder meeting is scheduled for April 22, where a 75% approval is needed for the delisting to proceed, with a projected effective date of May 2. The company aims to refocus on long-term growth and reduce regulatory burdens associated with being publicly listed. Additionally, it reported that its sales for the year ended December 29, 2024, were slightly down compared to the previous year, reflecting ongoing market challenges. The decision to go private is seen as a strategic move to enhance operational flexibility and support debt refinancing discussions with major shareholders.