Greene King appoints Adams as MD
Greene King has named Justin Adams as the new managing director of its brewing division. Adams, 39, right, is currently managing director of Maxxium, the global marketing, sales and distribution company for premium wines and spirits, where he has helped to deliver impressive growth. Before Maxxium, he held a number of positions at Diageo, the last of which was as managing director of Guinness in Germany. He will join Greene King in September 2005. Rooney Anand, chief executive of Greene King, said: "His experience in managing a brand-led drinks business, and his personality will be invaluable to the ongoing development of our beer brands and brewing business."
Wolves tipped to securitise
Wolverhampton & Dudley is likely to securitise part of its managed and tenanted estate, Panmure Gordon analyst Stuart Price has claimed. The move would increase its acquisition firepower by £100m to £400m and allow earnings per share to increase by 5%. Price said: "W&D is the only large pub company without securitised debt, but we believe that is about to change."
Just pennies for Grey Archer creditors
Creditors of Grey Archer, the failed internet-based pub support business set up by Guy Hands, received their final few pennies at the weekend. Grey Archer crashed in September 2002 with debts totalling £26.7m. Accountants Ernst & Young wrote to creditors at the weekend to inform them they would be receiving 0.047p in the pound. One creditor, who received a cheque for 48p, said: "It must have cost more to send the cheque than it's worth."
Monthly title to replace MA Scotland
William Reed, the Morning Advertiser's publisher, is to launch a new monthly magazine for the pub trade in Scotland. The magazine, which will be published from July, will replace MA Scotland. MA publisher Russell Dodd said: "MA Scotland will be published up to the launch of this new magazine in July." PubChef will be distributed with the new title in Scotland.
Tokyo Industries opens £2m venue
Bar group Tokyo Industries is to open a new £2m venue, Tokyo Huddersfield, in an 1820s Grade II-listed former courthouse in Huddersfield. The outlet features four bars and two outdoor terraces over the three floors.
