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Enterpise Inns continues selling
Enterprise Inns continues to pay off debt by selling pubs and there has been “no material change in the underlying performance”.
The company also recently announced that it will no longer be preventing some of the pubs it has sold from competing with its remaining estate. It continues to pay extra costs on pubs that are on short term management agreements rather than normal tenancies, but these costs have stabilized, as has trading in the rest of the estate. It is worth remembering that the pub companies face other regulatory threats as the government and competition authorities come under increasing pressure to help tenants stay solvent through the recession — Enterprise Inns itself recently agreed to reduce beer prices charged to tied pubs as contracts are renewed.
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