Punch splits in two in bid to lower debt March 22, 2011 PUNCH Taverns is splitting its business in two in a bid to tackle its crippling debt pile. The pubs company is splitting off its managed pubs arm into a company set to be known as “Spirit”, separate from its leased pubs arm to create two individual stock market-listed businesses. The managed pubs business, which includes [...]
Bunga Bunga everyone: Italy comes to Battersea August 3, 2011 Q: Charlie: You first showed your interest in nightlife and parties aged 13 when you arranged a party at Crazy Larrys. Duncan, you weren’t far on his heels. What was it about that world that drew you so powerfully? A (Charlie): I realised it was something I could do at the same time as studying [...]
BEST OF THE BROKERS May 23, 2011 MITCHELLS & BUTLERS JP Morgan has downgraded the bar and restaurant operator from “overweight” to “neutral” on the back of recent share price strength, and has lowered its target price by 48p to 360p. The broker thinks the current share price reflects the dilutive impact of major disposals including 333 pubs. However, it expects M&B [...]
Greene King in new debt deal April 4, 2011 PUB group Greene King has secured a new five year £400m revolving credit facility with its banking partners to bankroll expansion. This replaces the existing £400m facility, which was due to expire in April 2012. The company said in a statement: “This new facility gives Greene King continued financial flexibility and helps underpin the ongoing [...]
The Kings Head April 19, 2011 Enjoy the warmest of welcomes at this gorgeous Georgian coaching inn. The Kings Head is located in the historic village of Hursley and oozes real character and atmosphere. Each room is individually designed, boasting antique furnishings and feature fireplaces, and food lovers will enjoy the tasty seasonal menu served in the cosy pub and restaurant. [...]
TWO HALVES March 21, 2011 PUNCH, the highly-indebted pubs group headed up by Ian Dyson, is today expected to announce the demerger of its Spirit unit when it unveils a long-awaited strategic review. The Spirit Group – which is made up of better-performing managed pubs – would be spun off, leaving Punch to sell off underperforming pubs in its leased [...]
TWO HALVES March 21, 2011 PUNCH, the highly-indebted pubs group headed up by Ian Dyson, is today expected to announce the demerger of its Spirit unit when it unveils a long-awaited strategic review. The Spirit Group – which is made up of better-performing managed pubs – would be spun off, leaving Punch to sell off underperforming pubs in its leased [...]
Dyson expected to split Punch Taverns into two March 20, 2011 DEBT-SADDLED pub chain Punch Taverns will announce plans to splinter off its best-performing ventures tomorrow, a person familiar with the company said yesterday. Chief executive Ian Dyson’s long-awaited review of the firm is said to have considered several options, including spinning off the directly managed pubs under the Spirit Group banner into a separate listed [...]
THINK ROOMS… with LateRooms.com May 22, 2011 THE ST DAVID’S HOTEL & SPA 5* Havannah Street | Cardiff | CF10 5SD A modern icon of the city, The St David’s Hotel & Spa stands proudly on the edge of bustling Cardiff Bay. With its striking glass-fronted design every room here enjoys spectacular floor-to-ceiling views across the water, creating a real tranquil atmosphere [...]
Marston’s is boosted by pub grub October 6, 2010 PUBS and brewing group Marston’s said earnings for the year to 2 October were in line with its expectations, as increasing food sales boosted revenues at its managed pubs division. Like-for-like sales at the managed pubs unit were 1.7 per cent ahead of last year, as food sales, which account for about 40 per cent [...]