Malcolm Walker buys more shares in IRC

Michael Hunt

Iceland founder Malcolm Walker has acquired more shares in Individual Restaurant Company, the operator of Piccolino and Restaurant Bar & Grill.

Walker has acquired 867,191 ordinary shares at 5p/share in the company, making him beneficial owner of 21.75% of the company's current issued ordinary share capital.

In April, IRC reported an annual loss of £872,000 on sales of £53.3m for the year to the end of December 2009. Individual Restaurant Company operates 22 Piccolinos and 11 Restaurant Bar & Grill restaurants.

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