27th October 2008
Today's Guardian highlights the difficulties faced by tied tenants, with pub sales faling by more than 8% in the last quarter, as consumer fears of recession begin to bite.
This quarter's statistics are the first year-on-year figures available since the smoking ban was introduced - with the continuing fall in sales disproving claims that the ban alone is at the heart of tenant's troubles.
The article states that a growing band of lessee publicans have become increasingly critical of pubcos. It quotes Brian Jacobs, a member of the Fair Pint campaign group, who said pubcos were "avariciously leveraged corporate buy-to-let landlords". He also said: "The pubcos have acted irresponsibly for many years, in much the same way as we now know some bankers have been acting."
Read the full article on the Guardian website: