Article in NEW YORK TIMES
What's happening to Britain's pubs is a massive private equity scam. The guys who set it up got out years ago. Now they hang out on the islands and yachts they bought on the back of asset stripping Britain's heritage, traditions and sense of place. The guys now in charge are doing a mop up job of the mess for wages.
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The Duke of Marlborough, opposite Lakanal House, Dalwood Street London SE5
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Tied Pubco's own most of Britain's pubs and deliberately run them down, sweating them to the max financially, milking them of all profit, as they struggle to repay even the interest on the loans the island hopping guys raised to buy the pubs in the first place. It's an aggressive downward spiral with inevitable financial collapse at the end. It's asset stripping of small businesses, done on a massive scale. Pub euthanasia no less.
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