Charles Wells to absorb beer price increases
Charles Wells Pub Company is to absorb all price increases and duty hikes on draught beers and ciders for its tenants until 4 April.
The move follows a similar initiative from Marston's Pub Company and is designed to help licensees through the current tough trading climate.
Prices of its own brewed beers had already been held until 2 February but the Bedfordshire-based brewer and operator will now freeze all prices until 4 April.
"We're working with our retailers to deliver the practical support they need," said Charles Wells Pub Company managing director Anthony Wallis.
"Their immediate concern is to remain competitive and we've therefore decided to absorb price and duty rises on draught beers and ciders until April 4th 2009.
"We'll continue to monitor industry trends so that we can review what help is needed from April onwards in consultation with our suppliers and licensees."
Additional support
Freezing beer prices for the first quarter is part of a raft of support initiatives being offered by Charles Wells.
As well as free places on its training courses in February and March for new and existing licensees and staff, it has devised a sale and rent back scheme on inventory to help tenants raise working capital.
Capital expenditure to improve the estate will also continue, with £4m expected to be spent throughout the year.
"We're sure that by holding the price and duty rises on draught beers and ciders and offering a number of different support mechanisms, we're providing the practical support that individual licensees require," added Wallis.
"We'll continue to listen to their needs and identify realistic assistance as effectively as we can because we know that we must work together to build successful and profitable businesses."
