Login Register

Uttoxeter jobs may be at risk in Punch Taverns battle

By UttoxeterPostandTimes.3522974.UttoxeterPostandTimes  |  Posted: April 14, 2014

Comments (0)

JOBS may be at risk after pub company Punch Taverns stacked up £2.6 billion of debt.

The pub chain must agree a new payment plan with investors tomorrow, or it could face administration.

Punch Taverns owns a number of pubs in Uttoxeter including Ye Olde Talbot in Market Place and The Plough Inn in Stafford Road.

Embattled Punch Taverns has moved to reassure staff and customers that its pubs should remain open.

The message came ahead of tomorrow's crunch meeting of investors.

A Punch Taverns spokesman said: "In the event that a restructuring is not agreed, it is likely that an administrative receiver would be appointed.

"We would expect an administrative receiver to treat all tenants fairly, as they are vital to future success of the business.

"We would continue to supply beer, support our partners, invest in our pubs and let pubs to new partners, very much business as usual."

The company ran up its debts after going on an expansion spree before the recession hit.

Read more from Uttoxeter News

Do you have something to say? Leave your comment here...

max 4000 characters