TV licensee aims to reduce pub tenants' debts

TV star licensee Jay Smith is hoping to convince pubcos to write off a group of tenants' debts.

The star of UKTV Blighty's Save our Boozer series, said he had received a "massive uplift" in calls from indebted pubco tenants since the show aired.

He has been successful in negotiating with pubcos on reducing tenants debts. In one case he agreed for 60% of the arrears to be written off with the other 40% rentalised over five years interest free.

Smith now wants to broker a deal on behalf of a large group of tenants rather than carrying out one a week.

"The first point to make people aware that they did sign a lease in full knowledge of the conditions and the second thing is that pubcos very rarely act illegally.

"That said, there has been a smoking ban and a global recession and people can buy beer at the supermarket for less than 50p when the licensee is charged £1.80 before he even sells it."

He added: "I can say to the pubcos, you can get two-thirds of the money owed to you or you can get nothing because if they don't agree, the tenant will have to leave.

"I think we would have strength in numbers and the pubcos could show they were acting to help tenants.

"In the light of the recent inquiry, they could say we have given an amnesty to all these licensees — it would be great publicity."

Smith currently charges a £695 upfront fee for cases he takes on, which includes a thorough audit of accounts, plus he takes 10% of savings made. He said this charge would reduce under a group deal.