Pubs in peril being bought on the cheap

Pubs driven to financial ruin by the impact of the pandemic could be bought up on the cheap under plans being drawn up by JD Wetherspoon as well as by a new venture fronted by the former boss of Greene King.

In a statement to investors, Wetherspoon said it was raising up to £93.7m by placing new shares.

It said the money would be used to strengthen a balance sheet damaged by the pandemic and offset the impact of an expected slow start once pubs reopen.

But the 871-strong pub chain said the money would also “facilitate the acquisition of new properties, which are likely to be available at favourable prices, as a result of the pandemic”.


https://www.theguardian.com/business...0-covid-grants

"Nearly three-quarters of the pubs promised a £1,000 grant by the prime minister to help them survive the loss of Christmas sales in England are still waiting for the money, the British Beer & Pubs Association (BBPA) said.

The grants, which local councils have been asked to distribute, were intended to help “wet-led” pubs, which do not serve food and instead rely on alcohol sales, leaving them particularly exposed to Covid-19 restrictions. Venues that did not serve food were unable to open over the traditionally lucrative Christmas period."

And here's the original story on the Rooney Anand side of it: https://news.sky.com/story/ex-greene...ector-12192484

Probably a no-brainer, as there will be a lot of pubs/chains/breweries going at 'distressed' prices before long. I suppose there is a positive side in that there might be a slightly higher chance of them being reopened than if a local property company grabs the premises.

You don't want them to run an empty shift because you'll learn nothing about them, but chucking them in on a Friday or Saturday night on an unfamiliar bar will also teach you nothing. I find that pool or darts league nights are often good nights to use as they'll have teams buying big rounds, giving them a small amount of pressure UPSers Login