Greene King reports strong like-for-likes

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Greene King has reported strong like-for-like sales growth for the majority of its managed and tenanted pubs in the 36 weeks to 11 January this year....

Greene King has reported strong like-for-like sales growth for the majority of its managed and tenanted pubs in the 36 weeks to 11 January this year. Its managed division saw sales up by 3.4% at 520 of its 549 managed pubs. The Pub Partners tenanted and leased division saw like-for-likes up by 6.2%, with beer sales rising by 4%. Beer sales by the brewing arm increased by 5% with Old Speckled Hen rising by 12% and Abbott Ale up by 4%. Springwood gets week's breathing space Troubled nightclub company Springwood, operator of the Zanzibar chain, has won an extra week's breathing space as it struggles to restructure its finances. The company, which parted with founder Adam Page last August, negotiated a credit line with its bankers in December that was due to expire at the end of January. It has now negotiated an extension until 8 February. Springwood is negotiating with a "number of principal creditors" in an attempt to convince them to reschedule or reduce debts. £1m refurb go-ahead for Celtic Inns pubs Celtic Inns, the operator of more than 60 pubs in south and west Wales, and southern England is investing close to £1m across its estate this year. The biggest single investment is at the Lamb in Tenby, where a major refurbishment has already started. A number of other developments are to be undertaken across the estate. These include exterior refurbishment schemes, covering signage, lighting and redecoration in a further 12 pubs. Twenty such schemes have now been completed in two years. Co-founder Clive Williams said: "We believe that our pubs should be marketed in a local free-house style, where the pub landlord is seen as the owner." Gale's estate expands into Oxfordshire Hampshire brewer George Gale has expanded its geographical boundaries with the acquisition of the George in Littlemore, Oxford. The George is the first pub that Gales, which now has 43 managed houses, has bought in Oxfordshire. Gales head of property David Butcher describes it as "a solid community pub that will add to our strengths in the local community pub market, where we already have a great deal of experience".

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