Chris Whirledge who are you sticking up for then?

I saw Steve's post before it was withdrawn, I'm not surprised it was taken down because what he said implied that all PubCos behave the same way when a lessee is in default and send in bailiffs asap. But you can hardly argue that Steve, or anyone else with a bit of experience of PubCos here, including you, needs a degree in rocket science or a crystal ball to predict with a high degree of accuracy what a PubCo will do when a tenant is in default. It's common knowledge.

Whereas your statement:

"It is just as likely that the tenant could be a lazy and financially irresponsible person who should never have gone into the pub trade" is an irrational position which barely stands up to the most cursory scrutiny:

Where would anyone who's genuinely lazy and financially irresponsible accumulate enough cash to be able to invest in a business in the first place?

Oh yes. Of course. It was handed to them on a plate by the DTI's 'Set Yourself Up In Business The Easy Way' programme. I don't think so. And neither would if you could just take a moment to apply yourself to thinking about it.

Your statment is not objective, it comes from a loaded default position. You assume before anything first that a lessee is at fault - lazy and financially irrespobsible - before considering the possibility that the figures just don;t stack up.

Where did you learn that viewpoint? At the School of BDM Excellence?