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  1. August 18, 2014

    Tales of the uneggspected show power of political risk

    In mature democracies, businesses need only plan for a narrow range of external influences. In unstable countries, the...

  2. August 18, 2014

    Punch confident restructuring plan has ‘momentum’

    Punch Taverns says it now has the necessary “momentum behind” its debt restructuring proposal that aims to slash a quarter...

  1. August 11, 2014

    Punch Taverns extends talks to finalise £2.3bn debt restructuring

    Punch Taverns and its bondholders have another 10 days to reach an agreement over the restructuring of the pub company’s...

  2. July 18, 2014

    Life after death for the traditional boozer

    No one has ever propped up the bar at the Paper Mill micropub in Sittingbourne, Kent – because it does not have one. Each of...

  3. June 29, 2014

    Pints or property? The dilemma for pubs

    Wedged between two bureaux de change opposite Kensington Gardens near Hyde Park, London’s 18th century Black Lion pub is a...

  4. June 26, 2014

    Punch Taverns closes in on £2.3bn restructuring deal

    Punch Taverns is on the brink of a £2.3bn restructuring deal after it reached an agreement with its biggest group of...

  5. May 27, 2014

    Punch Taverns: from deluded to diluted

    Punch shareholders have been bobbing and weaving for years. Here comes another hard right to the jaw. After many rounds of...

  6. May 27, 2014

    Punch Taverns investors face ‘significant equity dilution’

    Debt-laden pub group Punch Taverns has unveiled a restructuring plan that would result in “significant equity dilution”,...

  7. May 2, 2014

    UK boardroom trades May 3

    Susan Taylor Martin trebled her stake in hotel and pub group Whitbread on Thursday, though she might regret not investing...

  8. April 30, 2014

    Greene King looks to crown strong growth with acquisitions

    The chief executive of Greene King said the pub group was open to making acquisitions, as the owner of 2,200 pubs and...

  9. February 16, 2014

    For Punch shareholders, a bloody nose beats a knockout

    Who but a lawyer would relish the scene of a family gathered around a parent’s deathbed and squabbling over who gets the...

  10. February 12, 2014

    Tax retrospection a blind alley in India’s equity quest

    India gets mixed reports from tourists. The pleasure of viewing the Taj is counterbalanced by the discomfort of seeing...

  11. February 12, 2014

    Punch backs down in debt restructuring battle with creditors

    Punch Taverns has scrapped its “final” proposal to restructure its £2.3bn net debt, with company management now willing to...

  12. February 6, 2014

    Listed pub sector serves up a healthier round of figures

    Pubs closing their doors. Food and drink costs rising. Britons drinking less beer. By some measures, the future of the pub...

  13. January 27, 2014

    Punch bondholders knock back £2.3m debt restructuring plans

    Bondholders in Punch Taverns have thwarted the pub group’s plans to restructure its £2.3bn debt after a group of senior and...

  14. January 17, 2014

    Small-cap Week, January 18

    UK shale gas prospectors led the small-cap gainers this week after French group Total gave the fledgling industry a vote of...

  15. January 15, 2014

    Punch Taverns: time please!

    After 15 months of negotiations with various flavours of bondholder, Punch Taverns has rung the bell and called time. The...

  16. FT Alphaville

    January 15, 2014

    The (early) Lunch Wrap

    Good Morning New York, NEWS Punch threatens to default on debt: Punch Taverns on Wednesday issued a stark warning to...

  17. January 15, 2014

    Punch bondholders face last orders on debt

    Punch Taverns on Wednesday threatened bondholders with default unless they agree to “final terms” for restructuring the pub...

  18. December 9, 2013

    Punch Taverns and bondholders narrow their differences

    A deal between Punch Taverns and its bondholders about the restructuring of its £2.3bn net debt edged a little closer after...

  19. November 21, 2013

    Pubs turns focus from property to staff

    For a long time in the pub industry, the property market came before pubs. Whoever was running the pub – and how well they...

  20. September 25, 2013

    Punch Taverns hit by fall in profits as it struggles with debt

    Punch Taverns’ attempt to restructure its £2.3bn net debt will take on a new urgency as looming deadlines focus the minds of...

  21. September 10, 2013

    UK small caps enjoy summer hot streak

    A rare spell of sunshine appears to have worked wonders in the UK economy this summer. After a disappointing recovery from...

  22. September 5, 2013

    UK’s Enterprise Inns refinances £100m of net debt

    Enterprise Inns, the largest pub owner in the UK with 6,000 drinking holes, has refinanced £100m of its net debt through an...

  23. August 22, 2013

    Never knowingly underpaid, JLP staff are an oddity

    Like Mary Poppins, the John Lewis Partnership is practically perfect in every way. Even its payroll screw-ups are benign....

  24. August 8, 2013

    Brokers fined over Reliance share price manipulation

    The UK financial regulator has fined two advisers and is planning enforcement action against a third in three cases all...

  25. June 17, 2013

    Lombard: Co-op Bank listing would horrify Rochdale Pioneers

    The announcement by the Co-operative Group of a £1.5bn plan to rescue its faltering bank should stabilise the battered...

  26. June 12, 2013

    Punch proposals on debt rejected

    Bondholders at Punch Taverns have rejected the company’s latest restructuring proposal and have called for an independent...

  27. June 10, 2013

    Punch Taverns restructuring to cut £2.4bn debts faces rejection

    Punch Taverns’ new restructuring plans, aimed at reducing its £2.4bn net debt pile, face another rejection by bondholders,...

  28. May 14, 2013

    Enterprise Inns rejects government plans for pub industry

    The chief executive of Enterprise Inns has claimed that the government vastly overstated the number of complaints made...

  29. April 22, 2013

    Cable targets ‘unfair’ pub group tactics

    Vince Cable has warned that local pubs are being “driven to the wall” by the “unfair practices” of large pub companies as...

  30. April 7, 2013

    Tortoise and hare tactics pay off for brewer

    In a week when bondholders at Punch Taverns have been in open revolt, there is still part of Britain’s beer estate not in...

  31. April 5, 2013

    Punch hits out at bondholders

    The head of Punch Taverns hit out at disgruntled bondholders for not coming up with a viable alternative to the pub...

  32. April 3, 2013

    UK pub industry craves parity over tax

    George Osborne is rarely cheered when he enters a room. But one such exception occurred last week, when the chancellor...

  33. March 21, 2013

    APR boosted by rising demand for power

    APR Energy, whose backers include the former US Secretary of State Madeleine Albright, said it was doubling its turbine...

  34. March 19, 2013

    Spirit Pub Company warns on beer duty

    The chief executive of Spirit Pub Company, which has more than 1,200 pubs across the UK, called on George Osborne, the...

  35. February 21, 2013

    Punch suffers hangover after credit binge

    In late 2001, Chris Lindesay, a management consultant, decided to quit the City and become a pub tenant with his wife in...

  36. February 7, 2013

    Punch soars on debt revamp support

    Shares in Punch Taverns jumped as much as 46 per cent after the UK pub company said it had received strong signs of support...

  37. January 27, 2013

    Westhouse fails to lead by example

    Westhouse must hope that its clients do what it says, not what it does. The stock broker makes its money persuading...

  38. January 24, 2013

    No safety in numbers for IPO specialists

    Gregarious lot, investment bankers. When a company is planning a flotation it often starts off with just one lonely advisory...

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