All Punch Pubs Co articles – Page 11
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News
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Punch Taverns has withdrawn its proposed debt restructuring proposals that were to be put to its creditors on Friday (14 February) “following feedback from a range of stakeholders”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
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OpinionPunching to a standstill
Mark Brumby at Langton Capital takes a look at the latest on Punch Taverns’ attempts to push through its proposals regarding its debt restructure, the response from bondholders and asks, amongst other questions, whose court is the ball in now?
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NewsCommercial terms deterred Punch bondholders
A source close to a group of Punch Taverns bondholders has given reasons for its decision not to support the pub company’s plans for its debt restructure
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NewsABI unable to support Punch restructure proposals
A group representing Punch Taverns noteholders has said it’s unable to support the pub company’s plans for its debt restructure
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News
Punch and noteholders clash over restructure process
Punch Taverns executive chairman Stephen Billingham and a committee representing senior Punch noteholders have clashed over the process of the company’s debt restructure
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NewsPunch announces full restructure proposal
Punch Taverns, the tenanted and leased pub operator, has announced the full terms of its debt restructuring proposal and said that failure to effect the restructure would be expected to lead to a default in the near-term
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NewsPunch disposals to take longer than anticipated
Punch Taverns, the tenanted and leased pub company, expects its pub disposal process to take about two years longer than initially thought
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NewsPunch: statutory code threatens jobs
Punch Taverns says 415 jobs could go among its external contractors and suppliers if the Government introduces its proposed statutory code as planned
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NewsPunch shares grow 19% as M&C20 recovers
Punch Taverns was the star performer in the M&C20 this week, with its share price rising 19% to 12.5p on the back of the company’s restructuring proposals announced on Monday
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NewsPunch noteholders 'would oppose restructure proposals'
The Association of British Insurers Senior Noteholder Committee wants a number of changes, including limiting maximum capex to £15,000 per core pub per year and putting “board observers” into the corporate structure, before it can agree to proposals
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NewsPunch sets out restructuring plan
Punch Taverns has this morning set out its latest proposals for restructuring its debt securitisations, and said it will launch its final proposal by 15 January
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NewsBillingham: Restructure talks have been "lively"
Punch Taverns executive chairman Stephen Billingham has told M&C Report that discussions with different parties over its debt restructure negotiations have been “lively” and said it’s “good news” that all stakeholders are involved
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OpinionGrowing from solid foundations
Earlier this month, Punch Taverns was named Business Enabler of the Year at the National Business Awards its Foundation Tenancy (PFT) lease agreement. Giles Kendall, operations director for Punch and project leader, talks about the develop of the agreement, the challenges the company faced incorporating it and how it has fundamentally changed the way Punch works with its licensees
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News
Punch reiterates Sell and TP for Punch
Leading analyst Simon French has reiterated his Sell recommendation and 7p Target Price for Punch Taverns after its “slightly better than expected” trading update