Monday, October 10, 2011

Orchid under threat of bank takeover

Well at an average debt per pub of around £140,000 it's difficult to see what the problem is here.

But no matter, everyone in the pub industry can take comfort in the knowledge that banks, as opposed to pubco's, are getting the hang of how to run pubs now, having had so much experience at managing insane amounts of debt held against totally toxic assets where the sums just don't stack up.

Who better to take on insolvent assets than companies whose expertise lies in making insolvency appear normal and when it all blows away to dust, getting the tax payer to pick up the bill?

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