Brook to exit Spirit arm

Brook joined Punch at the start of the year to help Ian Dyson, chief executive, with the group’s strategic review before its demerger.

It was thought Brook had been lined up to lead a management buyout of Spirit’s leased portfolio.

However, with Spirit encouraged by the division’s recent performance, the group decided to rethink that plan.

Last month, the group’s leased division reported like-for-like net income for the year to 20 August was down 4.1%, although the company reported a stronger second half of the year with sales down 1.9%.

EBITDA declined 3% to £42m, after a 4% reduction in pub numbers.
The company said its leased pubs have an average net income of £97,000. A replacement for Brook could come from Punch, with operations director Paul

Pavli tipped as a possible candidate.

Brook previously served at the group as strategy director after Punch
bought Inspired Inns & Taverns, a leased pub business owned by Alchemy

Partners that Brook ran as chief executive. His return to Punch followed his exit from Ad-miral last November.