Co-Punch Taverns RSS feed for the Co-Punch Taverns tag
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Business
Alun Thorne B'ham Post 29 Nov 10
Chef & Brewer pub owner Punch Taverns is drawing up plans to call time on nearly 6,000 pubs across the UK in a bid to slash its £3.1 billion debt.
Ian Dyson, the new chief executive, may hand the tenanted estate – that is pubs the Burton-on-Trent-based company owns but leases to independent landlords – to the group’s bondholders, according to reports…
Business
BusinessDesk 12 Oct 10
Pubco Punch Taverns has announced a £29m fall in annual pre-tax profits compared with a year ago, while full year EBITDA stood at £422m against £514m in 2009.
Pre-tax profits in the year to August 21 fell to £131m from £160m, while disposal proceeds were £299m, comprised largely of non-core assets. The sales achieved an average multiple of 16x EBITDA…
Business
Tamlyn Jones BusinessDesk 24 Aug 10
Staffordshire pubco Punch Taverns says it has been boosted by a favourable summer and pub refurbishment as trading remained consistent.
In a final year statement for the 52 weeks ended August 21, 2010, the Burton-upon-Trent company said today it expected earnings before tax and exceptional items would be marginally ahead of its previous expectations…
Business
B'ham Post 23 Aug 10
The GMB union has warned pub managers to “be very afraid” after Birmingham pub group Mitchells & Butlers decided to sell more than 300 of its bars to private equity firm TDR Capital.
The GMB union said it was worried that the people behind TDR Capital were the same investors behind the financial engineering at Punch Taverns – which has been accused of putting unfair pressure on its licensees through the beer tie after finding itself in financial difficulty…
Business
BusinessDesk 22 Apr 10
Midlands-based pub operator Punch Taverns has announced an 18% fall in interim profits and warned that trading conditions are likely to remain challenges.
In a report covering the period the 28 weeks to March 6, the Burton-upon-Trent firm said it had seen pre-tax profits decline to £66m, compared to £82m in the corresponding period last year.
Business
Graeme Brown B'ham Post 30 Mar 10
The boss of Britain’s biggest pub company has announced his decision to step down after nine years with the Staffordshire group…
Business news
B'ham Post 23 Dec 09
The Campaign for Real Ale is turning to the courts to try to get action on what it calls anti-competitive practices by large pub companies. Camra says pubcos – principally large Midlands firms like Punch Taverns and Enterprise Inns – are imposing unfair charges on their tenants at a time when many are struggling to survive. The campaigning organisation made a ‘super complaint’ to the Office of Fair Trading this year but it was rejected…
Business
B'ham Post 16 Dec 09
Midland pub chain Punch Taverns has revealed it is now providing £2 million a month to help licensees battle continued tough trading conditions…
Business
Tom Scotney B'ham Post 25 Sep 09
The Burton-on-Trent company, which has debts amounting to billions of pounds, is set to auction the 300 pubs from its ‘turnaround division’…
Business
Tom Scotney B'ham Post 26 Aug 09
Pub company Punch Taverns has clawed back more than £1bn of debt after a massive sell-off of its network of pubs…