Enterprise Inns calls time on 200 pubs
Midlands-based pub giant Enterprise Inns is selling off around 200 pubs because of falling sales due to the credit crunch and last year's smoking ban.
Midlands-based pub giant Enterprise Inns is selling off around 200 pubs because of falling sales due to the credit crunch and last year's smoking ban.
It made the announcement after reporting a 12.6% slump in full-year pre-tax profits. Profits stood at £263 million for the year to September 30, compared to £301 million the year before.
"A vicious economic downturn, last year's smoking ban, a hike in beer duty, poor summer weather and cheap offers in supermarkets have all combined to encourage drinkers to stay at home," said chief executive, Ted Tuppen.
The group currently owns 7,700 pubs, a portfolio which had grown from just 368 when Enterprise was founded in 1991.
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56-58 Church Walk, Burgess Hill, West Sussex, RH15 9AN
Registered in England No. 6646125. VAT No. 938 4452 95
