All Punch Pubs Co articles – Page 11
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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”
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OpinionWork that experience
Consumers have become ‘value hunters’ and are increasingly willing to go extra lengths to get the best deal, making it more important than ever to build the relationship that will create brand loyalty. But with this loyalty comes further expectations
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NewsPunch reassures tenants over deposits
Punch Taverns has said it is unable to guarantee that tenants’ security deposits will be secure in the result of a potential default on its debt, but has suggested it would be extremely unlikely that an administrative receiver would not protect the funds
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NewsPunch dismisses tenant buy-out rumours
Punch Taverns has “categorically” dismissed rumours claiming it has allowed tenants to buy outside the tie, ahead of the noteholders’ vote on its debt restructuring proposals next week
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NewsPunch bondholders eye alternative restructure plan
Alternative debt restructure proposals for Punch Taverns are being drawn up by representatives of the pub group’s bondholders, according to The Telegraph
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NewsNext few days 'crucial' for Punch
The next few days will be some of the most important in the history of Punch Taverns, the group’s executive chairman Stephen Billingham has said as it nears the date where noteholders vote on its debt restructuring proposals
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NewsCerberus acquires further Punch portfolio
Cerberus Capital Management, the US private equity owner of Admiral Taverns, has acquired a further 32 pubs let to Punch Taverns from Nick Leslau’s Prestbury Holdings, in a deal valued at c£30m