Debt

Banks aren't the only source available to lend you money for expansion, so do your homework before taking the cash

Smart money: sourcing funds to expand your business

By Michelle Perrett

If you want to expand your business, financial backing is key but where can you get your hands on the readies? It’s not just banks that can help you. There are probably more options than you think

Money worries: last year, 60% of January enquiries to the LTC were from people seeking financial support

How pub workers can beat the January blues

By Stuart Stone

In light of seasonal splurging and early December paydays, the Licensed Trade Charity has issued a short guide to help pub workers beat January money blues.

Be at One completes £20m refinancing

Be at One completes £20m refinancing

By Mark Wingett, MCA

Be At One, the Piper-backed cocktail bar group, has completed a £20m refinancing, and ended the sales process it started earlier this year.

Is it a good market for first-time buyers?

Pub property

Is it a good market for first-time buyers?

By Nicholas Baker

Nicholas Baker provides us with his thoughts on the current environment for pub finance and tips for applying for finance as a first-time buyer.

Funding advice: Are we 'in the money'?

Finance

Funding advice: Are we 'in the money'?

By Phil Mellows

As pub industry confidence returns, so is lenders’ faith in the ability of operators to give them a return on their money. Phil Mellows reports.

'The key to any mortgage application is a well thought out business plan'

INSIGHT

The right approach to bank borrowing

By Roger Schooling

Roger Schooling, senior partner at Sidney Phillips Business Mortgages, says make sure you get expert advice before making your pitch to the bank

If all requisite approvals are obtained, the restructure proposals are expected to become effective on 8 October

Punch restructure edges closer

By John Harrington, M&C Report

Punch Taverns’ restructure has edged closer after more creditors gave their backing to its proposals.

Punch Taverns must launch its restructure by 11 August

Punch noteholders vote to waive covenants

By John Harrington

Punch Taverns noteholders have voted overwhelmingly in favour of requests by the pub company to waive its covenants that would otherwise put the firm in default, as part of the restructure of its £2.3bn debt.

The Tap House in Lancaster

Mitchell’s eyes Tap House concept roll out

By John Harrington

Mitchell’s of Lancaster, the Lancashire-based pub and hotel operator, says it hopes to roll-out its fledgling craft beer concept Tap House while also looking to make additional property disposals as a condition of completing a financial restructure of...

Punch's new proposals would result in a 26% reduction

Punch proposes debt-for-equity swap

By Mark Wingett

Punch Taverns has this morning published details of revised restructuring terms, which differ in a number of ways from the terms of the restructuring launched by the company in January, including a debt for equity swap that would see bondholders take...

Christie Finance director Chris Field: 'We are regularly approached by clients who have been turned down by their own bank'

Banks still slow to lend to pubs, say agents

By Ellie Bothwell

Banks still perceive the pub sector as “a risky bet” when it comes to lending and will only consider issuing loans if applications meet stringent criteria, according to property agents.

Punch Taverns debt talks are contiuning

Punch Taverns bondholders vote to waive covenants

By Mark Wingett

Talks regarding the restructuring of Punch Taverns are set to continue after the pub company announced this morning that its bondholders had voted in favour of waiving covenants that would otherwise have placed the company in default.

Stonegate is 'planning for stock market flotation'

Stonegate prices £400m of bonds

By Mark Wingett

Stonegate Pub Company, the TDR Capital-backed group, has completed the successful pricing of £400m senior secured notes due in 2019, after announcing the bond offer last week.

The ABI Senior Noteholder Committee said its members find the waivers

Punch noteholder committee favours covenant waive

By John Harrington

A group representing senior Punch Taverns noteholders has signalled its acceptance of the pub company’s request to waive its covenant and avoid default on its debt securitisations.

Punch executive chairman Stephen Billingham has warned about the potential consequences of not supporting the restructuring proposals

Coming days 'crunch time' for Punch Taverns, warns boss

By John Harrington

The next few days will be some of the most important in the history of Punch Taverns, the group’s executive chairman Stephen Billingham has said as it nears the date where noteholders vote on its debt restructuring proposals.

Punch Taverns: 'The restructuring proposals are final'

Punch announces full restructure proposal

By John Harrington

Punch Taverns, the tenanted and leased pub operator, has announced the full terms of its debt restructuring proposal and said that failure to effect the restructure would be expected to lead to a default in the near-term.

Oakman has reported a hefty rise in like-for-like sales

Oakman Inns reports rise in like-for-like sales

By Lewis Brown

Oakman Inns and Restaurants, the Hertfordshire-based group led by Peter Borg-Neal, has reported a 14.5% rise in like-for-like sales in the year to 31 March as turnover grew 18.8% to £9m.

Debts should be divided into two different groups – priority debts and non-priority debts

Ten tips on dealing with debt

By Business Debtline

Business Debtline helped 26,000 struggling small businesses last year, a proportion of which were pub licensees. In this article, the charity offers 10 tips you can use to help get back on the road to financial health.

Pubs for sale: Christie Group says they are becoming more affordable

Pubs have become more affordable, says Christie Group

By Mark Wingett

Advisory firm Christie Group has reported this morning that pubs have become more affordable and that funding remains available for experienced operators, but the sale of distressed assets by banks has slowed.

Punch said it aims to complete its restructure by the end of the month

Punch announces revised restructuring proposals

By John Harrington

Punch Taverns, the tenanted and leased pub company, has announced revised proposals for the restructuring of its £2.4bn debt securitisation and says it hopes to have the restructure completed this month.

WaverleyTBS was owed £26.5m by trade debtors

WaverleyTBS was owed £26.5m by trade debtors

By Rob Willock and John Harrington

WaverleyTBS was owed £26.5m by trade debtors at the time of its collapse last month, of which it is estimated that only £15m will be paid.

Brokers ‘expected’ bank lending fall

Brokers ‘expected’ bank lending fall

By Gurjit Degun

Pub-trade brokers have said they expected high-street banks to fall short of lending targets for offering finance to small and medium enterprises (SMEs) under the Project Merlin agreement.