Finance

JDW loses toilet tax case

JDW loses toilet tax case

JD Wetherspoon, the managed pub operator, has failed in an attempt to claim capital allowances for work partitioning toilets at two of its pubs.

More small-scale pubcos use EIS

More small-scale pubcos use EIS

By John Harrington

Increasing numbers of small-scale pub operators are setting up new companies via funding from the Enterprise Investment Scheme (EIS).

Living Ventures secures new funding

Living Ventures secures new funding

By Mark Wingett

Living Ventures, the North West-based restaurant and bar company led by entrepreneurs Tim Bacon and Jeremy Roberts, has secured a new £4m funding deal, which it will use to further invest in its estate.

Admiral reports

Admiral reports "transformational year"

By Mark Wingett

Admiral Taverns, the 1,300-strong tenanted pub company, wiped a further £76.7m off its debt in the year to May 2011, as it trimmed its estate by 16.3% and reported a 6.9% rise in turnover per pub.

Punch warning on outlook as sales increase

Punch warning on outlook as sales increase

By Mark Wingett

Punch Taverns, the tenanted and leased pub company, continued to see improvement in like-for-like trends across its core estate for the 16 weeks to 10 December, driven by its pubs in the South, which offset declines across its sites in the North, and...

Roberts joins Watson and Bruce in new pubco ventures

Roberts joins Watson and Bruce in new pubco ventures

By Adam Pescod

John Roberts, the former managing director of the Fuller’s Beer Company, has become a founder investor and non-executive director of two new pub companies alongside pub entrepreneurs David Bruce and Clive Watson.

Shepherd Neame appoints new finance director

Shepherd Neame appoints new finance director

By Mark Wingett

Shepherd Neame, the Kent-based brewer and pub operator, has appointed Mark Rider, former head of finance, food at Sainsbury’s, as its new finance and IT director.

Pub hosts faced ruin after loan fraud

Pub hosts faced ruin after loan fraud

Two hosts faced bankruptcy and were forced to live in a friend’s spare room for three months after being caught in the clutches of a multi-million pound fraudster.

Stonegate hails TDR for M&B pubs deal

Stonegate hails TDR for M&B pubs deal

By Adam Pescod

Stonegate Pub Company chairman Ian Payne revealed his private-equity backer TDR Capital funded the £370m acquisition of 333 Mitchells & Butlers (M&B) wet-led pubs entirely from its own resources after major banks had proved unforthcoming.

Deal: the Premier Inns all have a restaurant attached

Whitbread to sell Premier Inn sites

By Mark Wingett, M&C Report

Whitbread is to sell seven Premier Inn sites to real-estate investment firm LaSalle Investment Management for £53.8m in a sale and leaseback deal.

Brewdog: Second round of fundraising launched

Brewdog launches second fundraising campaign

By Mark Wingett, M&C Report

BrewDog has launched a second round of fundraising as it looks to raise £2.2m to finance a new eco-brewery and the opening of more bars across the country.

Private equity: attracted by pubs’ ability to throw off cash

Hansen: private equity to eye pubs

By Michelle Perrett

Private equity will be looking to invest back into the tenanted pub market, Peter Hansen of Sapient Corporate Finance has predicted.

Be At One: working with Zolfo Cooper

Be At One seeks backing for growth plans

By Mark Wingett, M&C Report

London-based cocktail bar operator Be At One has appointed Zolfo Cooper to advise it on its investment options for future growth. It is looking to...

Admiral: wiped out £47m of debt

Admiral wipes out £47m of debt

By John Harrington, M&C Report

Admiral Taverns has wiped £47.2m off its debt as it trimmed its estate by 11% and reported improved trading in its turnaround division.

Hemming: loves the industry

Paul Hemming: the dealmaker

By Phil Mellows

Selling Balls Brothers to Novus Leisure is just the latest deal by Paul Hemming. But he's not just a number-cruncher, as Phil Mellows discovers.

Milestone: ceased trading

Pub accountant Milestone ceases trading

By The PMA Team

Well-known pub trade accountant Milestone has ceased trading, Morning Advertiser has learnt. The company's trading name was retained when fellow...

Punch: bondholders not happy with review

Punch bondholders: review disappointing

By Mark Wingett, M&C Report

Bondholders in Punch Taverns have accused the pubco of ignoring the issues surrounding its tenanted estate in the strategic review of its business....

Chef and Brewer: One of Punch's managed pub concepts

Punch: Spirit de-merger being considered

By Mark Wingett, M&C Report

Punch Taverns has confirmed that a de-merger of its managed arm is one of the options it is considering as part of its strategic review, the results...

Punch will hold a strategic review tomorrow

'Measured approach' likely from Punch

By The PMA Team

A leading analyst has said that although there is a myriad of options available to Punch Taverns in regard to tomorrow's strategic review, the most...

Buck up Banks: MA campaign

NatWest refuses to lend funds to pubs

By Gurjit Degun

NatWest has told a licensee that it does not have a "positive stance" towards lending to pubs. In an email seen by the Morning Advertiser, Julie...

Tchenguiz: confident he will be cleared

Tchenguiz brothers arrested

By John Harrington, M&C Report

Robert Tchenguiz has been arrested along with his brother Vincent as part of the investigation into the collapse of Icelandic investment bank Kaupthing.

Punch Taverns: strategic review due in January

Punch considering Matthew Clark sale

By Mark Stretton, M&C Report

Punch Taverns, the leased and managed pub group, is reportedly considering selling its 50% stake in drinks wholesaler Matthew Clark, a move that...

Punch: strategic review due in January

Punch bondholders seek advice

By Ewan Turney

Bondholders in Punch Taverns are believed to have held a meeting with financial advisers ahead of a possible restructuring. According to the...

Dyson: controversial pay package

Punch's Dyson in line for £4.6m

By Mark Stretton, M&C Report

The new boss of Punch Taverns could earn nearly £4.6m this year as a result of a controversial pay package. Ian Dyson, the former finance director...

Hickman: Punch should focus on managed pubs

Analyst: Punch should drop tenanted pubs

By The PMA Team

A leading City analyst has claimed that Punch Taverns' best option now is to allow the two securitisations — A and B — that cover 5,325 of its...

Punch: fears over bond insurer

Debt security fears hit Punch

By Ewan Turney

Fears have been raised that Punch Taverns may have to raise more funds after its US bond insurer Ambac said it may file for bankruptcy. Ambac said...

Is the money set to flow in the pub sector again?

Equity funds 'will pounce on pubcos'

By Graham Ridout

A leading financial adviser is predicting a flurry of acquisitions or mergers in the wake of TDR Capital buying 333 pubs from Mitchells &...