Friday, August 05, 2011

Pub closures at 25 a week, sales declining

Who is Harry Hawksby talking to here? His customers? Publicans? Provate equity investors? The general public? What ARE these stats FOR? They stats are all over the place anyway Pub closures DOWN? Who really believes that - the figures come from inside the industry. Anyone keep an eye on selling agents' particulars? More pubs coming onto the market at ever lower prices doesn't tally with consumer spending in decline, far more cuts on the way, erratic weather, wholesale beer prices and general fixed costs going up and margins falling ever lower. Pub groups going into administration, pub companies breaking up their estates and slowly collapsing. No glass half full here, no optimism, the investors' “notable growth” is optimistic - it's growth for them as they juice more cash out of a diminishing bunch of fruit. That's not growth for pubs, it's growth for investors. This bit is the teller: "as the market continues to improve we could see an acceleration of public houses being offered for sale as the banks and institutions begin to exit properties which are currently being run in administration." They're in administration. They are being exited.

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