Honeycombe Leisure, the Northeast bar and hotel operator, has reported like-for-like sales down 3% on the year. Honeycombe’s chairman Sandy Lane said that, although its community pubs and restaurants traded well, several of its larger bars in town centres had underperformed. Honeycombe owns or manages about 150 bars, pubs and hotels. The company reported that its pub management business was going strong. Its venture capital trust Nectar, which runs 30 pubs on behalf of landlords, delivered returns of over 20%, generating fees of £150,00 a week. Honeycombe launched a second venture capital trust in June, which now has one site under management, three contractually signed up, and terms agreed with a further 14 pubs.