Financial

Orchid: losses of £46.2m

Orchid property arm close to breach

By Mark Stretton, M&C Report

Recently published accounts from Orchid Group reveals its property arm is in danger of breaching a banking covenant.

ALMR has warned the industry is not a piggy bank for the Chancellor

Pub industry not Darling's 'piggy bank'

By Ewan Turney

The pub industry is not a piggy bank to be raided every time the Chancellor can't make his sums add up — that's the message from the Association of Licensed Multiple Retailers (ALMR) prior to Monday's pre-budget report.

City Diary: 6 November

City Diary: 6 November

By The PMA Team

All Bar One on trend with cask Cask ale is an exciting and resurgent product, Part 48. Mitchells & Butlers' trendy All Bar One chain has started...

Rate cut could leave customers with more cash to spend

Interest rates cut by 1.5%

By Ewan Turney

The Bank of England has cut interest rates by 1.5% in a dramatic move to 3% — its lowest since 1955.

Redback: extra licensing conditions

£10 all-in promo is 'responsibly run'

By Gemma McKenna

An Australian-themed bar in west London has satisfied the local council that its £10 all-you-can drink promotion is responsibly run. Ealing Council...

Banks: promise of competitive lending

Bank trio lead way on loans for small firms

By John Harrington

Three major banks have promised to offer "competitively priced" lending to small businesses "at 2007 levels". The pledge was made as a condition of...

Escapade: drinks deal

Nexum defends £5 all-you-can-drink deal

By John Harrington

Nexum Leisure has defended its £5 all-you-can-drink offer at its Escapade club in Newport, claiming it is merely responding to the discount market created by others — the operator says it would welcome a minimum price scheme.

Relieved: Darren Tingle with wife Lynn and daughter Laura

Opus cuts £8,000 bill down to £709

By John Harrington

Opus Energy has backed down from demanding an extra £8,000 from a licensee and increasing bills by 75%. Furious Darren Tingle was told he owed...

Police: resources are being stretched

Market towns can be like 'wild west'

By Ewan Turney

Some small market towns are like the "wild west" because extended pub opening hours are stretching police resources to the limit, say police.

Banks are putting up loan rates

Banks put squeeze on pub borrowers

By Tony Halstead

Banks are beginning to turn the screw on pubs as the global economic crisis hits the high street. Business loans and charges for overdraft...

Questions have been asked of major pubcos

Experts query pub rents

By The PMA Team

Two of the industry's most senior valuers, Barry Gillham of Fleurets and Rodger Vickers of Brownhill Bateman, have called into question whether the current rent-setting methods are sustainable in bottom-end pubs.

Rate cut could leave public with more cash

Interest rates cut by 0.5%

By Ewan Turney

The Bank of England has cut interest rates by 0.5% to 4.5% in a co-ordinated approach with the rest of the world.

Supermarkets are selling below cost

Supermarkets selling booze at 1980s prices

By Ewan Turney

Supermarkets are selling alcohol below 1980s prices, according to an investigation by Scottish paper the Sunday Mail. The paper revealed that Asda is...

Sandra and Gary Higginbotham fell on hard times

Pub tenants foxed by debt

By Roger Protz

Effects of the bad weather, smoking ban, rising beer duty and rent are overwhelming rerasons why Gary and Sandra Higginbotham left Punch pub Old Fox in Hertfordshire.

Tchenguiz: Not put off by Laurel situation

City Diary - 14 August

By The PMA Team

The PMA Team rounds up all the latest gossip and hot news from the City.

HSBC has tightened loans to leisure sector

Major banks deny loans clampdown

By Tony Halstead

Major banks have denied they are tightening the screw on loans and overdrafts as the economic slowdown continues to hit the leisure sector.

Consumers are happy to pay more for quality

Consumers will pay more for good pub-grub

By Ewan Turney

Consumers are willing to pay an average of 36% more for a gastro-pub meal if the service, food and atmosphere are of a high standard, according to a new survey.

Reversing decline: MPs and trade leaders want tax relief

Empty property tax relief support

By Paul Collins

MPs and trade leaders have added their support to the British Property Federation's (BPF) campaign for reversal of empty property tax.

The average tenant could make just £3,000 profit next year

Tenant profits could drop to just £3,000

By Ewan Turney

The profit of the average tenant could drop to as little as £3,000 over the next year, a senior market analyst has warned. Mark Brumby of Blue Oar...

Credit coercion

Credit coercion

Making business transactions with personal credit cards is illegal. Cookseys managing director David Morgan explains how new regulations affect who...

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Property of the week

Trust Nightclub - Friars Gate, Warrington

£ 150,000 - To Let

Friars Gate, WarringtonLocated in the Heart of the Town Centre Nightclub Circuit6AM Licence on Friday & SaturdayClose Proximity to UniversitySeparate Floors AvailablePotential to Split Subject...

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