COMPANIES Globe Pub Company, the pub operator owned by property entrepreneur Robert Tchenguiz, is to call in financial advisers to look at “operational issues” within the group after another quarter of poor trading left it within inches of breaching its debt covenants.
In a quarterly update to bondholders, the group, which owns 424 pubs, said beer sales had dropped 8 per cent in the three months to November 29, an acceleration on the 6.5 per cent decline reported in the previous quarter.
