Saturday, April 18, 2020
#NoPubNoRent The #GreatBritishPubcoScam 2020
It should be absolutely clear to everyone in the UK, and particularly anyone who's been a member of Protect Pubs ( join here ) for any length of time, exactly what tied lease pub companies are:
Private equity, hedge fund owned, vulture capital funded corporate vehicles used to acquire, then convert undervalued assets into cash.
They are owned by casino chancers and gamblers, poker players, sociopathic cultural criminals who are the drivers of disaster capitalism. Turning OUR pubs into their money is one of their crap shooting hobbies. If there's some kudos and beer along the road of getting richer than any ordinary person can ever imagine being, then so much the better. The people who work for these entities are only earning money to pay the rent. They know what they're doing but don't know anything else and will never admit their bonuses are predicated on running pubs down to be sold for alternative use by profiteering from publicans who are covering the interim overheads of land banking property before sale.
ANYTHING these corporate entities have to do with pub ownership or operation is incidental to their purpose. They exist purely to invest as little money as possible in order to return the maximum amount of cash imaginable.
Any action one or other of these entities they take that appears not to fit the above behavioral characterisation, such as spending money on refurbishing a pub, is a regrettable expenditure they have to indulge in while maintaining the appearance of being a 'Pub Company'. No more no less. These corporate sociopaths have what to ordinary people and publicans is unimaginable amounts of money to hand they use to keep up appearances.
There is no point trying to figure out why one particular pub over the next is chosen for spending money on, it's all irrational, the people who run these things have little more business acumen when it comes to pubs than sticking a pin in a donkey's arse. The evidence of 'the market' proves everything stated above.