I lost a good, profitable pub yesterday, because Punch are selling their estate. 20+ ppl to lose their jobs. Punch put it up for sale at 500k and took 230k to a developer, who intends to build a Farmfoods, or similar on site.
If they are that much in trouble, that they need to sell profitable houses, then they could do this anywhere.
Thanks,
Paul
Punch Pubs
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chcvending
- Coin Op Group Valued Contributor
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- Joined: January 15th, 2012, 3:07 pm
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Re: Punch Pubs
Punch rarely sell profitable businesses !! They are selling a large venue in Poulton-le-Fylde too but that was closed after the managers / tenants did a runner. That was a very busy venue when we had it but disproportionate rent increases and price increases forced us out. They do tend to milk sthe tenants until they force em out ... effectively cutting their own throats. Thats one strange business model