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.


  1. Leaving aside the fact that none of the large players are actually demanding cash while the pubs are closed, what's your view of what the Chancellor had in mind for the use to which the grants (particularly the £25k for the pubs at the lower end of the £15 - £51k RV band) should be put?

    He specifically mentioned rent in the HOC on 17 March.

    1. I'm bored with your anonymous trolling. I barely even post these days and there you are. Your anonymous empty profile with your empty anonymous comments.

      What happened to you when you worked for Scottish & Newcastle to make you live in denial of the appalling behaviour of your employers? It's pathetic that you're still here. Are you paid to do this weird stuff?

  2. It isn't complicated. Your fact is splitting hairs, all 'the large players' will be taking rent when it suits them - they aren't cancelling rent which is the security publicans need. The big business pub freeholders should be supporting tenants, investing in them when the chips are down by not charging rent - as Admiral Taverns and loads of other pun freeholders have done. They realise the value of tenants and respect them. The big businesses whov'e decided to throw their tenants into financial disaster are asset stripping disaster capitalist

    The tenants are small businesses without any contingency reserves. They can't survive crisis, they're always in crisis. They should be using grants and loans for what is urgent. For once the Rentiers can go to the back of the queue

  3. The Chancellor was quite specific - the grants are to be used for fixed costs including rent.

    Those without grants, those with the £10k, and those at the upper end of the £15 - £51k RV band will require more support from their landlord than those at the lower end of that range.

    After taking into account the grant, rates holiday, staff furlough, profits allowance and reduction in utilities etc costs it can be shown that various proportions of the rent are affordable for various P&Ls; isn't targeting those most in need of the big rent reductions (and those who will require most assistance post crisis) the more sensible way to go given that no landlord has infinite resources, and most have their own upward obligations in respect of finance costs?

  4. Missed the hair splitting point.

    There is a misconception amongst some "laymen" that tenants are being asked by the big players to fork out cash now, which would be unrealistic, indeed futile, pending payment of the government subsidies.

    I just thought I'd put the record straight on that.l

    1. You can't put any records straight. The major pubcos are owned and run by disaster capitalist shills, bullies and cheats. There's no place for organisations like this in a civil society. They need to be wound up and replaced by regenerative entities that will invest in pubs instead of running them into the ground