Connect Group finds little appetite for £35m sale and leaseback deal amid Tuffnells’ struggles

Tuffnells new livery

Connect Group has warned its performance since May has been “slightly below” market expectations, as it revealed that its plan to slash group debt through the sale and leaseback of property had hit the buffers. In a trading update today (13 August), the group said that “due to the current market conditions and outlook” bids received during the tender process for the 16 freehold and long leasehold Tuffnells properties, which were expected to raise £35m before tax,  “did not meet […]