Monday, June 29, 2009

S&NPE puts 20 freehold pubs on market

So S&NPE can concentrate on its core business model of pub management on behalf of contract partners like Royal Bank of Scotland and Globe - who acknowledged only earlier today that licensees are hard to find now. Wonder why they keep banging their heads on the walls of logic instead of actually 'operating' pubs. They all think running a pubco is having a free lunch where no work is done by anyone except the lessee and there's not even any point in owning bricks and mortar any more.

So they'll sell these pubs off and turn the cash to servicing the awful 'model' they've applied to the estate they don't own. The wolf's kept from the parlour door a bit longer and by the time it's back again, hopefully the economy will have recovered and lessees will be back to their previous forman saving the boys in suits from getting their pants bitten off by the recession. Trebles all round. Anyone been to the races recently?

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