Ex-Sarumdale directors secure tenancies on two pubs
Mike Lloyd and Rodney Hall have taken Enterprise Inns’ Europa in East Molesey, Surrey, and Great Harry in Belvedere, Kent.
The pair are to take another pub on a temporary tenancy this week.
In May, Lloyd told M&C Report that he and Hall hope to grow to between eight and 10 sites within 18 months to two years.
They are looking for tenancies and leaseholds, and have been in discussion with major pubcos.
The pubs will be held in the different limited companies in order to minimise their exposure to interest-rate swaps; Hall and Lloyd blamed the interest payment obligations on their hedged loans with Barclays, which totalled £350,000 a year for three years, for the firm’s demise in June.
The pair have been seeking redress via the Financial Services Authority.
