Saturday, September 12, 2015

Some People are Getting IT #GreatBritishPubcoScam or at least noticing the symptoms

Spread the word to save The Glad all over
Editorial in InaPub. Hamish Champ 11/09/2015 

Hamish, we were talking about this ten years ago. It's been a straight line here as we were predicting back then and it's accelerating - as you have noticed - and it is manipulation of assets for conversion to cash no less... it IS the #GreatBritishPubcoScam. Most blatant of these transactions recently is Punch Taverns selling 158 pubs to New River Retail; a private equity backed vehicle for retail asset conversion. 158 pubs, with publicans trading their businesses, living above the pub and serving communities - sold down the river to raise cash to pay a bit of the interest on the debts that Punch raised to buy the pubs in the first place.

We are standing by, the whole population of the UK, while our most important traditional cultural assets, our unique social capital, is being flogged off by spivs and chancers who hate pubs.

It is a White Collar Cultural Crimewave. No one is doing anything structural about it. It has to be stopped.

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