Pub operator and brewer Marston’s has reached an agreement to acquire 15 former Mitchells & Butlers pubs from property investment company Aprirose in a trading update for the year ending 29 September.
Premium arm of Marston’s estate, Revere, has announced that two new Lost & Found sites and a refurbishment of its original Birmingham site is on the cards for 2018.
Pubs face twin risks from consumer weakness and rising input costs, leading global banking giant HSBC to downgrade its ratings for JD Wetherspoon and Greene King last week.
Pub-industry bodies have slammed a report from the pubs code adjudicator containing evidence that pub-owning businesses (POBs) are blocking tied tenants’ access to the market rent only option (MRO) and going against the spirit of the pubs code.
Pub-owning businesses (POBs) are blocking tied tenants’ access to the market rent only option (MRO) and going against the spirit of the pubs code, according to a report commissioned by the pubs code adjudicator’s office.
British pubco and brewing giant Marston’s has made 53 people redundant as a result of its acquisition of Charles Wells, according to managing director Richard Westwood.
Billed as a ‘new dawn’ for tenants last July, take-up for the market-rent-only (MRO) option has proved slow ever since. What has gone wrong with this critical tenet of the pubs code?
The office of Pubs Code Adjudicator (PCA) Paul Newby has approached industry bodies for evidence following concerns pubcos could be inhibiting tenant access to the market-rent-only (MRO) option.
Only eight licensees have taken up the market-rent-only (MRO) option across five of the six pubcos governed by the pubs code since it came into force in July 2016.
