Punch Taverns is unable to guarantee that tenants’ deposits would be secure in the event of a default on its £2.3bn debt mountain, but suggested it would be highly unlikely that an administrative receiver would not protect the funds.
The next few days will be some of the most important in the history of Punch Taverns, the group’s executive chairman Stephen Billingham has said as it nears the date where noteholders vote on its debt restructuring proposals.
Save the Pub Group chairman MP Greg Mulholland has asked Punch for reassurance that its tenants deposits are secure in the event that the company goes into administration.
Hall & Woodhouse, the Dorset-based brewer and pub operator, has secured a £20m, 10 year loan from M&G Investments to help it acquire and invest in new pubs.
Punch Taverns, the tenanted and leased pub operator, has announced the full terms of its debt restructuring proposal and said that failure to effect the restructure would be expected to lead to a default in the near-term.
Trust Inns, the tenanted and leased pub operator, plans to spend £4m per year on its c500-strong estate but would rethink the investment if the statutory code on pubco companies is introduced.
The Alma, in Newington Green, north London, has re-opened with a new tenant at the helm, one month after former licensee Kirsty Valentine was evicted following a four-year legal dispute with owner Enterprise Inns.
Punch Taverns, the tenanted and leased pub operator, has reported a 1.4% rise in like-for-like net income in its core estate in the 12 weeks to 9 November, and maintained its view that it intends to announce restructuring proposals in December.
A co-founder of C2 Investment, which owns 76% of Lancaster Brewery, has criticised the “madness” of progressive beer duty (PBD) as it reported a pre-tax loss in the year to 31 January.
Imbiba, the investment vehicle led by John Connell, is poised to launch its third London Bar and Restaurant Enterprise Investment Scheme (EIS) Fund, after raising £4.5m.
Fewer than 20% of councils have clear and up-to-date guidance on how to apply small business rate relief, meaning that many firms miss out on the assistance, according to a study from Oxfordshire-based chartered surveyors Bankier Sloan.
The finance broker behind a new crowd-funding website has appealed for pubs in East Anglia to get in touch after a local businessman declared he would like to invest in the region.
NatWest and RBS have added a further £150m to their dedicated Leisure Fund aimed at small and medium-sized businesses after receiving “incredible” demand from across the industry.
A community group looking to reopen its local — the Tally Ho in Hungerford Newtown, Berkshire — has made the most of tax reliefs available for its investors.
Frederic Robinson, the Cheshire-based brewer and pub operator, says it’s on course to spend £3.5m on pub refurbishments in 2013 and has already committed to the same level of investment in 2014.
Stonegate Pub Company, the managed operator backed by TDR Capital, is believed to be in exclusive talks to acquire the 14-strong Living Room chain, which is valued at around £10m, the Publican's Morning Advertiser sister title M&C Report understands.
Premium Bars & Restaurants (PBR), owner of the Ultimate Leisure nightclub business, is exploring options for its 14-strong Living Room chain, including a possible sale, M&C Report has learnt.
Rushmore Group, the Jonathan Downey-led members’ clubs, bars and restaurant operator, has netted a further £500,000 through crowd-funding website Crowdcube.
Punch Taverns has reiterated to stakeholders that a pre-pack administration of the company “cannot be executed” and such a move is not in their interests.
The Association of British Insurers (ABI) Special Committee of Noteholders has rejected the restructuring proposals put forward by Punch Taverns last month but said it was prepared to work with the tenanted pub operator “to reach a quick & efficient...
TCG plans to invest in 20 sites during its current financial year after the company’s main backer Irish Bank Resolution Corporation extended its banking facilities for a further 18 months.
Punch Taverns, the leased and tenanted pub company, has reported improving trends in the 12 weeks to 2 March, with a slowing of the decline in like-for-likes across its core estate from 5.2% in Q1 to 3.5% in the period.
Grand Union Group, the London-based pub operator headed by Adam Marshall, says it has ended its talks with private equity in order to focus on building cash reserves for future self funded expansion.
Punch Taverns, the tenanted and leased pub company, has reported a fall in EBITDA and pre-tax profits in the 52 weeks to 18 August and says it has begun restructuring talks.
Pub finance is a bigger issue for the pub sector than beer duty, the smoking ban and supermarket pricing — that’s the view of James Baer, managing director of multiple operator Amber Taverns.
Pub finance brokers have hit out at the Government’s plans to put £1bn into setting up a bank designed to increase the amount of lending to small and medium businesses.
Barracuda Pub Company has completed a restructure, which will see the separation of its operating company (opco) from its property company (propco), with ex-Mitchells & Butlers (M&B) chief executive Adam Fowle becoming chairman of the newly formed...
Orchid Group has reported a 5.4% fall in EBITDAR in 2011, although turnover grew 3.7% to £179.6m, as the firm announced a three-year, £20m capex programme that will see wet-led sites become food-led.
Barracuda, the managed pub operator, is close to completing a refinancing, which will see a US hedge fund take a significant stake in the Smith & Jones operator.
Peach Pub Company, the multiple operator, says its in a “good financial position for further expansion” as it reports a 53% rise in pre-tax profits to £621,880 in the year to 1 January 2012.
City Pub Company, the Enterprise Investment Scheme (EIS) funded operator, has secured its sixth site, in Oxford, as it launches a new fund-raising bid and appoints a part-time finance director.
Looking to grow your pub empire? Think there’s a shortage of money around? Well, think again. There are plenty of potential investors out there — it’s just that the organisations who have got it, are afraid to use it.
It can appear to be a bleak period for Britain’s pub industry; falling consumer spending, changing drinking habits and a lack of bank funding have all contributed unnerving pub closure figures from the Campaign for Real Ale (CAMRA).
WaverleyTBS has reported a 5.5% rise in pre-tax profits to £4.2m following a company restructure in its first full year of trading since being bought from Heineken in 2010.
Peach Pub Company, the multiple pub operator, has received initial financing worth half a million pounds from brewer Molson Coors, with an option to secure more at a later date.
Downing Corporate Finance plans to raise up to £16m via its recently-launched Enterprise Investment Scheme (EIS) to invest in a portfolio of freehold and long-leasehold pubs.
Scottish brewer Tennent Caledonian is to provide further loans for licensees stocking its beer to help with cash flow, re-financing and growth investment.
Busy location on coastal main road
Extensively renovated detached public house
Five trade areas (100)
Sizeable refurbished 4-5 bedroom accommodation
Newly created beer garden (125)
Established and popular business...
