Welsh brewer Brains has announced plans to sell 40 managed and partnership pubs that are not considered ”core to its business”.
As part of a three-year plan to grow profitability and future-proof the business in “uncertain economic times,” the business has said sales proceeds will be used to improve its remaining estate, and to repay facilities provided to it by bank partners, HSCB and Lloyds.
Having briefed all the affected pub teams, the group said it will “manage this difficult process with respect and care, recognising the loyalty and commitment of all of our colleagues to Brains.”
“We will carry out these changes over the coming months to ensure that we have sufficient time to make proper provisions for any colleagues affected and to minimise the impact of these changes.”
Precis
Brains to sell 40 sites
Welsh brewer and pub opertaor SA Brain has announced plans to sell 40 managed and partnership pubs that are not considered ”core to its business”. As part of a three-year plan to grow profitability and future-proof the business in “uncertain economic times,” the business has said sales proceeds will be used to improve its remaining estate, and to repay facilities provided to it by bank partners, HSCB and Lloyds.
