Hawthorn prefer listing over sale
The 700 strong Hawthorn Pubco favours a London stock exchange listing despite interest from private equity firms and investment vehicles. The Sunday Times reported this included RedCat Pub Company and Sky News reported Admiral Taverns are front runners. The deadline for offers is Friday and bids are expected to be in the region of £200-£250m.
Number of licensed premises falls 8560
7.4% drop in the number of licensed premises since the start of the pandemic. The latest Market Recovery Monitor from CGA and AlixPartners showed Britain had 106,548 licensed premises at the end of April -- 8,560 fewer than it did in March 2020. The Monitor indicated over 35,000 sites have welcomed guests since 12 April, with pubs much higher than restaurants.
Aspirational Brands expand in south Manchester
The Handmade Burger Co and Lemongrass brand operator, is to open two leisure developments in Cheshire. Cheshire House Bar and Grill in Knutsford and Recardo's in Hale will have an emphasis on entertainment, including a late-night drinking licence until 2.30am.
2 Holiday Inn Express Hotels for sale in North west
The Wildes Group has placed 2 Holiday Inn Express Hotels on the market with Fleurets. The Hotels are in Crewe (64 beds) and Hoylake (56 beds) and are both on the market at £3.5m each for the Long Leasehold interests.
Young's confirms planned sale of Tenanted estate
London pub operator Young's has confirmed it is looking to sell its 63-strong tenanted division. Young's also reported that outdoor trading achieved 85% of normal trade at the 144 pubs it opened on 12 April.
Greene King to progress CVA of Loch Fyne
Approval has been granted for the company voluntary arrangement (CVA) of restaurant chain Loch Fyne. The company, working with Resolve on the restructuring, will see it exit 11 leasehold sites. The process will leave 10 trading sites in:- Ascot, Cambridge, Edinburgh, Knowle, London, Poole, Portsmouth, Woburn, Wokingham and York.
Pubs must offer a great experience
Ralph Findlay, CEO of Marston's, has said experience is replacing convenience as a reason to visit the pub and offering an experience is critical to the future of the pub sector. A "bland food factory" is not what is needed today.
And Finally...Pure Leisure Group acquire 3 sites
The 19 strong Holiday park operator has bought Country Holiday Parks and Doe Wood Lodges, which includes the Six Arches in Scorton and the Cockerham Sands and a third park Coniston View, which sits on the Furness peninsula near Ulverston. Pure Leisure Group also operate the Gledfield Highland Estate in northern Scotland and the Royal Westmoreland golf resort in Barbados.