Unviable pubs to close at Cains

Cains administrators are closing down a number of pubs it considers to be unviable.

Licensees in Punch-owned sites, leased to Cains, have been told several pubs had been judged unviable.

The news comes after it was revealed that the Dusanj brothers actually own the freehold for the brewery under a separate company. They had been charging Cains a rent of £500,000 a year.

Hosts were advised that the pubs would close this week and the leases surrendered, with the first batch axed yesterday.

More closures are expected today with the remaining due to take place on Friday. Worried hosts complained they have been told by the administrators it was business as normal, but this week the mood suddenly changed.

It is understood that Punch representatives have already visited some of the sites involved.

PricewaterhouseCoopers (PWC), which has appointed a team to dispose of Cains' assets, has reported a glut of interest from bidders.

Negotiations have opened with a number of more credible bidders, although it is still unclear whether buyers are interested in all or part of the company.

Marston's has already been touted as a likely candidate to buy the brewery because of its interest in regional beers.

However, Stephen Oliver, now MD of the beer and brands division, told MA: "Any potential deal is of interest to us. And through our acquisition of Burtonwood, we have an interest in the area. But it's putting two and two together and making seven to go any further than that at this stage."

Cains owns 26 pubs freehold with 26 leased from Punch and a further 28 leased from Nectar Taverns, a company under the wing of Admiral Taverns owner Gary Landesberg.