Pubs in financial crisis (From St Albans & Harpenden Review)

Pubs in financial crisis

3:10pm Tuesday 26th August 2008

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MORE and more pubs are facing financial crisis, according to the consumer body for beer.

Iain Loe, research manager for the Campaign for Real Ale based in Hatfield Road, St Albans, says he is hearing daily reports of pubs struggling in the current financial climate.

But he also said it is time for pub companies to be more supportive to their landlords.

Last week the St Albans Review reported the closure of Punch Tavern’s pub, The Old Fox in School Lane, Bricket Wood after the landlords were evicted for falling behind in rent payments but claimed help from the pub company could have saved them.

Mr Loe said: “The major companies like Punch Taverns and Enterprise seem to be rather lacking in support from quite a number of cases we have heard about.

“The companies are loosing their lease holders and in some cases selling on the pubs so that they are lost forever.

“They really need to talk more with the landlords and sort out the financial problems that they are suffering.

“Virtually every day we’re hearing about pubs across the country closing down.

”It’s an accumulaton of factors from rents to the smoking ban, but business relations managers need to talk though these with their landlords.”

Earlier this year The Maltings shopping centre in St Albans announced it had bought The Bell pub in Chequer Street and will turn it in to retail space.

He offered the advice: “Anyone who wants to take up a contract with a pub should talk to solicitors first and look very carefully at the contract and their rights.”

He added: “We don’t like seeing pubs close down.”

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