'Reward offered to catch pub arsonists'

The owners of a pub and restaurant complex have offered a £3,000 reward to catch arsonists who caused more than £500,000 in damage. Woody's Bar at the Woodland Waters complex in Ancaster, Lincolnshire, was severely damaged by fire on March 15. Owners Malcolm and Denise Corradine have had to cancel weddings and functions and make 25 people redundant while repairs are carried out - BBC ​

A night out in Edinburgh just got more expensive as pubs and clubs in the city became the first in Scotland to outlaw cheap drink promotions. More than 40 licensed premises in the Unight scheme have agreed to the move, which will see an end to deals such as "buy one, get one free" and "double up for £1" - Edinburgh Evening News​

Globe Pub Company was reported last night to have defaulted on a £257m asset-backed loan, leaving property tycoon Robert Tchenguiz facing hefty losses. Last month creditors of the company, which owns more than 400 pubs, were said to be about to seek the appointment of a receiver after Globe admitted that it had breached banking covenants - The Guardian​

Suffolk brewer Adnams has warned 2009 will be a bad year for the pub industry after reporting a 64% fall in profits. The group said faltering consumer confidence was hitting demand, with pressure from supermarkets and higher running costs affecting profits. It also said a bigger government tax burden was adding to the squeeze. Adnams, which is based in Southwold, said operating profits fell from £4.2m to £1.5m last year, with revenues edging 1% lower to £47.1m - BBC ​

Diageo: The drinks group has set up a joint venture in Japan with Kirin Brewery to expand distribution of brands such as Guinness, Kilkenny and Smirnoff Ice, as well as products already distributed by Kirin, including Captain Morgan rum and Gilbey's gin - The Times​

Premium Bars & Restaurants: The embattled operator of the Living Room and Prohibition chains could face a bid from Mark Jones, its former chairman, with private equity backing after its banker, Royal Bank of Scotland, asked BDO Stoy Hayward to canvass interest in some or all of its assets - The Times​