Pub group Mitchells & Butlers is to plough on with its joint venture with Robert Tchenguiz. The Daily Telegraph. The Times

The owner of the All Bar One bar chain said it would complete the deal ‘on acceptable financing terms once the debt markets have stabilised’.

It also confirmed that it would be interested in Punch Taverns’s managed pub division if it became available.

M&B revealed last week that it could face a potential £140m hit from the stalled property tie-up.

The pub operator’s insistence that it would press ahead with the joint venture came as it announced expected annual earnings, excluding the cost of the joint venture, to be at the ‘upper end’ of its forecasts.