'Alcohol a third cheaper in shops than 10 years ago'

- Last updated on GMT

Related tags: Alcoholic beverage, Treasury, Nicotine, Deloitte

Alcohol is up to a third cheaper in shops than it was a decade ago, say new Treasury figures, prompting a warning that cheap supermarket promotions...

Alcohol is up to a third cheaper in shops than it was a decade ago, say new Treasury figures, prompting a warning that cheap supermarket promotions are pushing pubs out of business. The average pub pint is now two and a half times more expensive than buying a beer to drink at home. The figures will increase pressure on the government to curb irresponsible price-cutting, blamed for fuelling Britain's binge culture, as part of a planned review of alcohol prices due to be published next month. - Observer

A drink containing nicotine is being launched in Britain to help smokers cope with the cigarette ban in pubs. Called Liquid Smoking, the drink is already a success in the Netherlands where it has been on sale for a year. It contains 15 per cent nicotine from natural sources and also has a herbal extract. - Mail On Sunday

A string of large companies have yet to begin refinancing negotiations with their banks, but face a tough time when they do. In the leisure sector alone, JD Wetherspoon, the pubs group, and bookmakers William Hill and Ladbrokes must refinance next year or at the start of 2010. Nigel Parson at Evolution Securities thinks Wetherspoon has the highest financing risk and "little room for manoeuvre". It must refinance 17 per cent of its borrowing facility next year and 95 per cent of subsequent facilities in 2010. - Sunday Times

Barracuda Group, one of the UK's fastest-growing managed pub chains, has appointed Deloitte to review the company's funding structure. The company, led by Mark McQuater, who set up the group in July 2000, says Deloitte has been approached to develop options for funding the business and its growth strategy and to reorganise its ageing debt structure over the next two to five years. - Scotland On Sunday

Related topics: Legislation

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