Shares in Punch Taverns, the leased and managed pub group, fell by almost a quarter yesterday. The shares closed the day down 41p at 120.5p. It was the second consecutive day that shares in Punch Taverns had closed at an all-time low. Punch’s share capital now stands at approximately £328 - dwarfed by its £4.9bn debt. The dramatic slump followed reports in the Sunday Times at the weekend that around 1,400 of Punch's pubs are looking for a new tenant — either through the company or existing tenants looking to assign. This was dismissed by chief executive Giles Thorley, who told the paper: "There are plenty of people looking to get into pubs. We leased more than 800 pubs in the year to August and we did 100 in August alone." Shares in Enterprise closed the day at 157.75p - down 18.5p.