Monday, February 17, 2014

Trouble brewing?

We found this report today on an email from Rightmove, should this be true, I dread to think what could be happening to 100's (1000's) of pubs (and jobs) very shortly.

Landlords fear losing £22m as pubs group Punch faces knockout blow
The Daily Mail (staff) reports that thousands of pub landlords could lose up to £22.6 million if Punch, Britain’s second-largest pubs group, falls into administration at the end of the week. Punch has not guaranteed it would give back the tenants’ deposits and it is likely they will be lost if the firm calls in administrators. The company issued ‘final proposals’ for a financial restructuring, rejected by the pension funds, warning that failure to push them through could result in the business defaulting.

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