Investors slow to lap up Cherokee Leisure shares

A few months ago, our colleagues on the Margin told us about the launch on Ofex of Cherokee Leisure, a company whose speciality…

A few months ago, our colleagues on the Margin told us about the launch on Ofex of Cherokee Leisure, a company whose speciality is lap-dancing clubs. Cur- rent Account is more acquainted with common-or-garden pubs, but these apparently are entertainment establishments where patrons enjoy the company of young dancing ladies who provide undivided attention.

Now, it seems that investors have the opportunity to invest in Cherokee's latest diversification into the corporate hospitality business, including what is described as "Girls on the Green" golf outings.

Cherokee boss David Peters confided to the Daily Telegraph this week that these outings were proving "wonderfully successful". "They're corporate days out, but the guys will have a beautiful young lady who acts as a caddy," he gushed. One wonders how the chaps in Portmarnock might react to such events on their hallowed sward.

Also in the pipeline from the wonderfully inventive Cherokee people are laser battles in virtual reality arcades. "The guys dress up as big white hunters and the girls dress as animals," says Mr Peters.

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Cherokee has been a bit of a disaster since it floated on Ofex - at 12p where the shares are well down on their 20p float price. Mr Peters said: "This is a sector which needs understanding. People have been a little slow in understanding it in the UK." Wonder why?