Debt

Rent moratorium extension ‘only defers the problem’

23-Mar-2021 By Nikkie Thatcher

More than half (53%) of operators quizzed in an industry poll said the Government’s decision to extend the rent eviction ban is of ‘little support’ as simply it postpones the issue.

Marston's curtails expansion to reduce debt

23-Jan-2019 By Emily Hawkins

Marston’s has scaled back plans to expand in a bid to slash its debt over the next few years, outlined in its latest trading report.

Smart money: sourcing funds to expand your business

05-Feb-2018 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

How pub workers can beat the January blues

09-Jan-2018 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

02-Oct-2017 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.

Closures

Craft beer and food to thank for fall in pub company closures

09-Dec-2016 By Michelle Perrett

Focusing on current trends such as craft beer and better food have led to a significant fall in the number of pub and bar companies going insolvent, new research claims.

Pub property

Is it a good market for first-time buyers?

23-Sep-2015 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.

Finance

Funding advice: Are we 'in the money'?

17-Jul-2015 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.

INSIGHT

The right approach to bank borrowing

12-Nov-2014 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

Punch restructure edges closer

05-Sep-2014 By John Harrington, M&C Report

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

Punch owes a debt of gratitude to its publicans

03-Jul-2014 By Rob Willock

Punch Taverns’ financial restructuring saga will one day make an excellent case study for MBA students, says Rob Willock.

Punch proposes debt-for-equity swap

27-May-2014 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...

Banks still slow to lend to pubs, say agents

21-May-2014 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 bondholders vote to waive covenants

30-Apr-2014 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.

Punch exec insists company is at the 'end game of restructuring'

16-Apr-2014 By John Harrington

Punch Taverns executive chairman Stephen Billingham has insisted  “a deal will get done” to tackle the pubco’s £2.3bn debts.

Stonegate prices £400m of bonds

10-Apr-2014 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.

Punch asks creditors to waive covenant in bid to avoid default

07-Apr-2014 By John Harrington

Punch Taverns has called a meeting with bondholders to vote on a request to waive its debt covenant to “avoid a near-term default” on its securitisations.

Punch noteholder committee favours covenant waive

07-Apr-2014 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.

Pubco directors banned for 13 years over £1.4m debts

17-Mar-2014 By James Wallin

Two bosses of a pub management company have been disqualified from acting as directors for total of 13 years after failing to pay creditors £1.4m.

Trust Inns agrees new £130m debt facility

20-Feb-2014 By John Harrington

Trust Inns, the tenanted pub operator led by Lynne D’Arcy, has secured a new £130m debt facility.

Punch tenants' deposits 'not secure' as pubco withdraws debt restructure proposals

12-Feb-2014 By Ellie Bothwell

Punch Taverns is unable to guarantee that tenants’ deposits would be secure in the event of a default on its £2.3bn debt mountain, but suggested it would be highly unlikely that an administrative receiver would not protect the funds.

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

05-Feb-2014 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.

MP Greg Mulholland asks for reassurance over Punch tenants deposits

24-Jan-2014 By Michelle Perrett

Save the Pub Group chairman MP Greg Mulholland has asked Punch for reassurance that its tenants deposits are secure in the event that the company goes into administration.

Punch announces full restructure proposal

15-Jan-2014 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.

Punch Taverns launches latest proposals for debt restructure

09-Dec-2013 By John Harrington

Punch Taverns has this morning set out its latest proposals for restructuring its debt securitisations, and said it will launch its final proposal by 15 January.

Oakman Inns & Restaurants raises £5.5m for further expansion

03-Dec-2013 By John Harrington

Oakman Inns & Restaurants, the Peter Borg-Neal-led group, has raised £5.5m for further expansion and announced the appointment of Joseph Evans, currently financial controller of Whitbread Hotel and Restaurant Division, as its new finance director.

MA300: NatWest says it's open for business and wanting to lend more

03-Oct-2013 By John Harrington

NatWest would like to extend its £150m fund for small and medium-size leisure firms, around half of which has already been allocated 18 weeks after its launch.

Ten tips on dealing with debt

15-Jul-2013 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.

Cambridge & Counties Bank will lend to 'good-quality' pubs

26-Jun-2013 By Gurjit Degun

Cambridge & Counties Bank has issued £40m in loans to small and medium-sized enterprises (SMEs), with a handful to pub licensees.

Pubs have become more affordable, says Christie Group

21-Jun-2013 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 announces revised restructuring proposals

10-Jun-2013 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.

Punch could face break-up as talks over debt hit wall

13-May-2013

Crucial talks between Punch Taverns and its debt holders are approaching stalemate, according to a report in The Mail on Sunday.

Barclays under fire from award-winning licensee after 24-hour loan refusal

21-Mar-2013 By Adam Pescod

Barclays has insisted that it is “supporting and lending to the pub industry” after an award-winning licensee hit out at its refusal to offer him financial assistance.

Pub borrowing to be 'slightly cheaper', says Acorn Commercial Finance

06-Feb-2013 By Gurjit Degun

Pubs are set to find it easier and cheaper to gain access to finance as a bank aimed at lending to small businesses has cut its fees for brokers.

WaverleyTBS was owed £26.5m by trade debtors

16-Nov-2012 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.

Finance broker sets up new facility to lend against closed pubs

12-Oct-2012 By Gurjit Degun

A pub finance broker has set up a new facility to lend against closed pubs, for licensees with a good track record in the licensed trade looking to buy a freehold.

Business Debtline accuses pubcos and breweries of lack of flexibility over rent payments

09-Oct-2012 By Gurjit Degun

A debt advisory service that is receiving an increasing number of calls from tied tenants has said pub companies and breweries are not offering enough flexibility in rent payments.

MA250: Pub finance is a bigger issue than beer duty, says Amber Taverns MD

03-Oct-2012 By Gurjit Degun

Pub finance is a bigger issue for the pub sector than beer duty, the smoking ban and supermarket pricing — that’s the view of James Baer, managing director of multiple operator Amber Taverns.

Pub finance brokers slam Government's new bank plans

02-Oct-2012 By Gurjit Degun

Pub finance brokers have hit out at the Government’s plans to put £1bn into setting up a bank designed to increase the amount of lending to small and medium businesses.

Losses narrow at pub operator Sir John Fitzgerald

24-Jul-2012 By M&C Report

North-east managed pub operator Sir John Fitzgerald (SJF) has reported a narrowing of losses in the year to 31 January.

Pub sector 'appears to have stabilised' as operators look to boost revenue

02-Jul-2012 By M&C Report

Despite rising costs and more at-home drinking, the pub sector “appears to have stabilised, with most of the weaker businesses having fallen by the wayside already”, says a new report from KPMG.

Christie Finance secures £20m fund for industry

24-May-2012 By Gurjit Degun

Christie Finance, the commercial finance broker, has secured £20m funding for the pub, hotel and retail sectors – the sum has been secured from an unknown source.

Hook Norton profits rise

28-Feb-2012 By John Harrington, M&C Report

Hook Norton, the Oxfordshire-based brewer and pub operator, has reported a sharp rise in profits in a “challenging” year.

Brokers ‘expected’ bank lending fall

22-Feb-2012 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.

Loan volume up as prices get realistic

01-Feb-2012 By Gurjit Degun

Brokers reported a higher volume of successful loans for last year as the trade saw green shoots of recovery.

Host sells bonds to clear pub debts

17-Nov-2011 By Gurjit Degun

A publican is issuing bonds after failing to secure a bank loan to cover cash-flow over Christmas.

Small firms set for bank-loans boost

26-Oct-2011 By John Harrington

A new bank has been launched that aims to loan £250m to small and medium-sized companies in 2012.

Walkabout operator Intertain's £29m loss

11-Aug-2011 By John Harrington, M&C Report

Walkabout operator Intertain has reduced its debts from £65m to £35m after agreeing a £29.9m debt-for-equity swap with its banking group. The...

Small businesses suffer loans woe

20-Jul-2011 By Mark Wingett, M&C Report

Just under a third (27%) of small to medium-sized businesses (SMEs) had their application for a loan rejected by banks last year.

Pubs 'n' Bars admin move

18-Jul-2011 By John Harrington, M&C Report

The administration of Pubs 'n' Bars by Grant Thornton has been extended by a further 18 months to December 2012. Grant Thornton has been the...