issues . please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages this article includes a list of references but its sources remain unclear because it has insufficient inline citations . please help to improve this article by introducing more precise citations . march 2013 learn how and when to remove this template message this article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . april 2016 learn how and when to remove this template message learn how and when to remove this template message bay restaurant group ltd type private industry hospitality founded 28 march 2008 headquarters porter tun house 500 capability green luton bedfordshire lu1 3ls area served uk key people ian payne chairman suzanne baker chief executive products pub and restaurant chains parent kaupthing website bay restaurant group footnotes references sister company of the town & city pub company the bay restaurant group is a hospitality company in the united kingdom specialising in restaurant and pub chains . contents 1 history 1.1 laurel pub company 1.2 financial difficulties 2 structure 3 references 4 external links history edit the company originates from three former companies yates s sfi group and the laurel pub company . laurel pub company edit slug and lettuce in leeds the group has its origins in the laurel pub company which was owned by robert and vincent tchenguiz two iranian businessmen . this originally owned the hogshead pub chain . in may 2004 it sold 432 neighbourhood pubs for 654m to greene king . robert tchenguiz s r20 bought the company for 151m in november 2004 . in june 2005 it bought the slug and lettuce and bar med for 80m when the surrey based sfi group went into administration . it also bought yates s for 202m with many becoming slug and lettuce outlets . in february 2006 it sold the forno vivo and santa fe chains . in april 2007 it bought the la tasca chain for 123m but in 2011 la tasca demerged into a standalone business under la tasca holdings ltd. 1 financial difficulties edit see also united kingdom insolvency law on 27 march 2008 the laurel pub company went into administration ; this was thought to be due to high rents . r20 mr tchenguiz s company with its 378 pubs bought the company back via pre packaged insolvency with most of the former company becoming the bay restaurant group on 28 march 2008 financed by kaupthing bank . in a few months many icelandic banks such as kaupthing would spectacularly collapse in october 2008 . see also 2008 2012 icelandic financial crisis in february 2009 mr tchenguiz was sued by the kampthing bank for an unpaid overdraft of 643m . mr tchenguiz was relieved of his involvement with the company by the banks to which he owed debts through an offshore company called oscatello based on the british virgin islands . on 27 july 2009 it was bought by two banks commerzbank of germany and kaupthing bank of iceland in a move to recoup debts from robert tchenguiz . this was done via a debt for equity swap where kaupthing became the major shareholder and the company s debt was reduced by around 150m . in may 2010 the company was put up for sale with tragus ltd. a potential buyer for around 70m . in september 2010 it sold ha ha bar and grill 22 pubs to mitchells & butlers for 19.5 m which will see the disappearance of the brand with 12 becoming all bar one . hogshead and yates s are now owned by the town & city pub company which is based in the same building as the bay restaurant group . this company was established on the same day by mr tchenguiz and is the other part of the former laurel pub company and also owned by kaupthing . the town & city pub company bought the slug and lettuce chain 82 pubs in february 2010 so is still based in the same building . structure edit the headquarters is situated in the south of luton off the dual carriageway airport way a1081 close to junction 10a of the m1 and luton airport parkway railway station opposite lower kidney wood near luton hoo . references edit la tasca holdings . caterer and hotel keeper . retrieved 2013 05 27 . selling ha ha to m & b in september 2010 put up for sale in may 2010 times february 2010 times july 2009 guardian february 2009 external links edit la tasca town & city pub company retrieved from https en.wikipedia.org w index.php title bay restaurant group & oldid 716948379 categories companies based in lutonpub chainsrestaurants established in 2008restaurant groups in the united kingdomcatering and food service companies of the united kingdomhidden categories articles lacking in text citations from march 2013all articles lacking in text citationsarticles needing additional references from april 2016all articles needing additional references navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 24 april 2016 at 21 46 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view