Quite a few.Originally Posted by Tris39
Curse of EI. Stonegate created this problem for themselves, they've been buying up any old crap that was going to make themselves the biggest PubCo. Looks like medium to long term economic planning of these acquisitions didn't happen and now, via COVID, here we are.
If 1,000 of them are expected to raise £800m, my guess would be the majority of them are not traditional pubs. More likely to be converted shops (Woolworths, for example) like this one in Gainsborough. So the question then becomes, in the light of the general downtown in town centre shopping, how realistic are their expectations? And why have they accumulated £2.6b in debt in the first place?
Come On You Hatters!
If they've got 4500 pubs that's around £500k a pub. Looks like a property bubble about to burst if there aren't enough punters spending enough cash to pay the interest.
Indeed. The sale of 1,000 pubs for £800 million reduces the debt per pub from £577k to £514k, which is a negligible difference. Can you imagine running a pub and trying to pay the interest on that much money, as well as the upkeep and overheads of the building, your own salary and whatever staff you employ? Horrendous.
Come On You Hatters!
The bigger they are, etc...
Anybody want a brewery? Appears to be George Wright, which I can't remember sampling and was last listed in 2019.
On leaving the bar, I felt a strong blow to the back of my head. Turning round, I discovered it was the pavement
The pub bosses that closed their kitchens to stay afloat https://www.bbc.co.uk/news/business-64557630
"Do I know where hell is? hell is in hello"
Some dodgy journalism here, It seems Jeff Bell, former landlord of here and here,now currently here., has transformed into a dead American singer /song writer.
*The article has now been corrected, here's a snippet of the original. Jeff Bell.jpeg
Last edited by Mobyduck; 25-02-2023 at 10:55.
"Everybody's got to believe in something. I believe I'll have another beer."
-W.C.Fields
And he's closed Monday, Tuesday and Wednesday and probably won't find fans with his close early if not busy policy, which makes my blood boil; there's nothing particularly novel about people bussing in their own food. I wonder if pubcos realise just how much they spend on powering their TV screens, frequently unwatched?
At least if wasn't Jeff Beck.
Last edited by Tris39; 25-02-2023 at 18:18.
Powdered Beer.
Use this link to get past the paywall.
Last edited by Mobyduck; 01-03-2023 at 20:43.
"Everybody's got to believe in something. I believe I'll have another beer."
-W.C.Fields
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