'Wetherpoons founder slams private equity as disastrous for industry'

The founder and chairman of JD Wetherspoon Tim Martin has warned private equity groups and property investors are having a disastrous impact on the industry. He added that government regulation and the excessive levels of debt taken on by such groups were "running down the industry" and that landlords were paying too much rent and unable to provide services and prices that are attractive to customers - The Telegraph​

Jamie Rollo, analyst at Morgan Stanley, says licensees at 28 per cent of Punch's pubs earned less than £20,000 last year compared to the pay meted out to members of the boardroom such as Giles Thorley, chief executive of Punch, who has collected £29.8m in pay, bonuses and share-based incentives over the last five years - The Guardian​

Chief executive of Punch Taverns Giles Thorley has appointed new financial advisors, replacing College Hill with Smithfield as part of the company's attempts to revive fortunes after its share price fell by 90 per cent - The Times​

Stock market analysts have advised clients to steer clear of listed pub companies as many pubs hit crisis point. But Paul Hickman, leisure analyst at broker KBC Peel Hunt, believes that the drinks arena is far more resilient than stock market valauations indicate. "Many of these businesses are much more robust than people think. Look, I'm certainly not talking about earnings growth for listed pub companies any time soon, but talk of the imminent collapse of many of these firms is over the top," he said. - The Independent​

Founder of the Geronimo pubs chain Rupert Cleveley has banned the word credit and crunch among staff in a bid to maintain to remain positive during what is traditionally the most difficult time of year for the industry. The company is in a celebratory mood after posting a 16 per cent surge in earnings at its London pubs during December and a 9 per cent jump in its pubs outside the capital - The Independent​

Global economic developments could pave the way for a revival in bartering in pubs. One UK pub, The Pigs, at Edgefield, in Norfolk has led the way by offering pints in exchange for locally sourced food to be cooked in its kitchens.- The Sunday Times​

Two Frenchmen and a dog stranded on Cornwall cliffs and in danger of drowning were rescued after calling a pub. The Royal Navy recued the group from Trebarwith Strand after the men contacted the Port William in Tintagel. Joint manager and owner Sue Sleight raised the alarm - The Press Association​