Laurel puts 100 pubs up for sale
Laurel Pub Company has instructed agents to sell almost 100 wet-led leasehold pubs and bars, M&C Report understands.
The move, which will in some quarters be regarded as something of a fire sale, comes just a week after it emerged that owner Robert Tchenguiz was considering a so-called "controlled administration" for part of Laurel - possibly up to 80 sites.
The venues placed on the market are thought to include more than 40 branded as Yates's, about 10 Hog's Heads, 10 Litten Tree outlets plus four Slug & Lettuce bars.
The package also includes an assortment of other brands such as Bar Med, Casa, Ha Ha Bar & Kitchen, and Mojama, plus a clutch of unbranded pubs.
The 94 bars, which are spread across Britain from Dundee down to Plymouth, are being sold by two property agents - Colliers CRE and Davis Coffer Lyons.
Many are thought to be available at a nil-premium.
It is thought that once the sites have been sold, either in packages or individually, Laurel will look to trim its head office costs.
Laurel is currently in the midst of a refinancing exercise and is understood to be under pressure from its banks to dispose of loss-making operations.
