Walkabout refurb costs may hit £9m

http://www.morningadvertiser.co.uk/City-News/Walkabout-refurb-costs-may-hit-9m

So. In the real world of bars and pubs £500K per refurbishment is pedestrian, expected and the norm whereas in the tied lease sector, in the words of Brigid Simmonds, spending almost NOTHING on a refurbishment is: 'a fantastic low cost way of getting into your own business' -

And a sure fire way to get into bankruptcy a year to three down the line while transferring the value of all your assets and all your cash into the coffers of a pubco

Trebles all round