All Punch Pubs Co articles – Page 10
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NewsPunch restructuring talks to continue
Talks regarding the restructuring of Punch Taverns are to continue after the company’s remaining bondholders voted in favour of waiving covenants that would otherwise have placed the company in default
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NewsPunch invests over £2m into Lancashire estate
Punch Taverns has invested more than £2m into its pubs across Lancashire over the past six months to refresh menus and enhance the use of local produce
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Punch sells Hammersmith pub for £2m-plus
Punch Taverns has sold the Old Parr’s Head in Hammersmith, West London for more than £2m after more than 10 offers for the site
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NewsPunch bondholders waive covenants
Talks regarding the restructuring of Punch Taverns are set to continue after the pub company announced this morning that its bondholders had voted in favour of waiving covenants that would otherwise have placed the company in default
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NewsAnalyst corner
Beaufort Securities has reiterated its Hold recommendation for Punch Taverns following the pub company’s interim results for the 28 weeks to 1 March
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NewsPunch: Restructure, investments, Punch Foundation Tenancy, disposals
M&C Report takes a closer look at the results for the 28 weeks to 1 March for Punch Taverns and speaks to executive chairman Stephen Billingham
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NewsPunch: net income grows in core estate; restructure talks continuing
Punch Taverns has reported a 1.4% rise in like-for-like net income in its core estate in the 28 weeks to 1 March, with average profit per pub up 4% across the entire estate
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NewsPunch noteholder committee favours covenant waive
A group representing senior Punch Taverns noteholders has signalled its acceptance of the pub company’s request to waive its covenant and avoid default on its debt securitisations
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Punch asks creditors to vote to waive covenant
Punch Taverns has asked to meet its noteholders on 29 April to vote on requests to waive its covenant and avoid default on its debt securitisations
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Punch invests £1.1m in Sheffield pubs
Punch Taverns, the tenanted and leased pub company, says it has invested £1.1m in its pubs in Sheffield in the past year
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Investor PPR Estates buys Punch pub
A Punch pub in south London has been sold to a new sector investor PPR Estates
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Horan eyes more sites
Mick Horan, former operations director for Ha Ha Bar & Grill and the Living Room, has told M&C Report he hopes to open at least three sites in the next 12 months, as he opens his first outlet under a student-friendly concept called Study Room
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NewsPunch targets restructure agreement in weeks
Punch Taverns says it’s aiming to agree the terms of a consensual restructuring of its debt over the next few weeks
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NewsPunch demands Cable meeting
Punch Taverns executive chairman Stephen Billingham has written to Vince Cable demanding a meeting after the Business Secretary’s ‘gaffe’ last week
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NewsPunch tells tenants it's business as usual
Punch Taverns has moved to reassure its tenants that it’s “business as usual” at the company following the latest announcement on the company’s debt restructure
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Analyst: Default the more likely option at Punch
Leading analysts have said that a default in one or both of Punch Taverns’ securitisations is looking the more likely outcome, after the group’s latest announcement on its restructuring proposals this morning
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NewsPunch warns on default; trading in line
Punch Taverns has stated that it would default on its debt payments within 30 days of the 15 April covenant testing date if it fails to achieve its restructuring plan, and warned of the “material negative impact on the business” if its plan is not approved by stakeholders
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NewsAnalyst corner
Leading analyst Mark Brumby at Langton Capital looks at the decision by Punch Taverns to postpone the vote on its restructuring proposals
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NewsBondholders: Alternative restructuring plan for Punch 'well advanced'
A group representing senior bondholders of Punch Taverns has urged creditors to support its alternative restructure proposal, which it says is “well advanced amongst creditor groups
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Punch withdraws debt resolutions for more talks
Punch Taverns has withdrawn its proposed debt restructuring proposals that were to be put to its creditors on Friday (14 February) “following feedback from a range of stakeholders”