Laurel Pub Company, the high street group owned by property tycoon Robert Tchenguiz, is considering options for up to 100 of its pubs that could lead to them being sold off or put into administration. Daily Telegraph, The Times
The future of the pubs has come into doubt as rival companies including Punch Taverns and Marston’s have put small groups of pubs on the market in the wake of the smoking ban and a decline in consumer confidence.
Tchenguiz has been in talks with banks about refinancing Laurel’s debt and the pub company is discussing a group of between 50 and 100 pubs that have been hit hard by the difficult trading environment.
Laurel is a conglomerate of high street pubs and restaurant chains including La Tasca, The Slug and Lettuce, Hog’s Head, Yates’s and Ha Ha Bar & Grill.