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Article Details 1,130 UK pubs owned by UK pubcos have closed |
| UK Pub Sales Agents News Added: April 15, 2009 01:43:07 AM |
| Author: |
| Pub Sales Agents - : Campaign for Real Ale |
Property News - 1,130 UK pubs owned by UK pubcos have closed |
Over 1,130 pubs owned by UK pubcos have closedNew figures from the GMB union show that 1,131 pubs with freeholds owned by seven UK pubcos have closed within the last three years. These pubs, run by tenants tied to the landlord, are owned by seven pubcos - Admiral Taverns Ltd, Enterprise Inns, Fuller Smith & Turner, Greene King, Marston's, Punch Pub Company, and S & N Pub Enterprises.GMB has said it wants the government to break up pub company cartels charging pub tenants up to 80 pence over the wholesale price of a pint of beer and to stop them driving uk pubs out of business. In West Midlands 232 pubs closed making the region the highest in Britain for the number of these pubs closing. It was followed by South East, North West, Yorkshire and Humberside. In a statement the GMB said: "The 'pubcos' have been driving up wholesale beer prices for their tenants by as much as 8% each year. In the first months of this year, with inflation falling rapidly, Enterprise Inns increased their prices by a further 6%. "The two main 'pubcos' owe more than £8billion in debt and their accounts show that they need £700million every year, or over £50,000 per pub to service that debt with much of that money going offshore." Paul Kenny GMB General Secretary said "An unintended consequence of legislation to loosen the tie between breweries and pubs to free up the market for the benefit of consumers has been the growth in pubcos who are operating as a cartel in the industry. "These pubcos, which own 25,000 pubs, are piled up with billions of pounds worth of debts. They are overcharging pubs by up to 80p a pint to pay the interest charges. It is this overcharging which is killing the pubs and driving them out of business. The 'pubcos' are blaming everyone else for the problem and not looking at the damage they have caused through their own greed. "Britain's pubs survived two world wars. They cannot survive being made to be cash cows to pay off the debts of the property companies and brewers that so clearly don't have the interests of pubs and consumers at heart." Steve Corbett, a tied publican who is a member of the Fair Pint Campaign, said: "Publicans tied to 'pubcos' are suffering badly from a combination of high rents and outrageous wholesale prices charged by 'pubcos'. This is causing pubs to close and jobs to be lost at a rate that it is totally unacceptable. "It was never intended that half of the countries pubs would end up in the ownership of such a small number of property companies. For too long there has been no one standing up for the interests of individual publicans and pub users and the voice of the sector has been dominated by trade associations representing the property companies and the brewers." Whether our clients are buying a pub, restaurant or hotel to redevelop or to run as a business, we aim to closely match their individual requirements and save time on property viewings, local research, due dilligence and property conveyancing.
Paramount Pub Sales 150 West End Lane |
UK Pub Sales Agents News
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Fresh Ale Bag Technology Limited of Wroxham ( FAB Technology Broadland for short ) has been formed to further Research and Develop the Technology used at Real Ale Experience on The Norfolk Broads at Wroxham.
Fresh Ale Bag Technology Limited of Wroxham ( FAB Technology Broadland for short ) has been formed to further Research and Develop the Technology used at Real Ale Experience on The Norfolk Broads at Wroxham.
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Pub For Sale : Red Lion, Park Road, Stevington, Bedford, Bedfordshire, MK43
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Pub For Sale : White Swan, Hope Street Crook, Durham, DL15