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Enterprise Inns offers rent concessions to struggling licensees

17 January 2008 by
Enterprise Inns offers rent concessions to struggling licensees

Enterprise Inns will offer rent concessions, discount schemes and trading support to licensees in a bid to stimulate consumer spending.

Ahead of its annual general meeting today the company warned trading conditions remained difficult.

The pub giants warning of tough trading conditions come a day after rival Punch Taverns warned of subdued consumer spending.

Enterprise added that the smoking ban in England and Wales had had an adverse impact predominantly on its wet-led pubs, which are already suffering from a national decline in beer volumes.

Enterprise chief executive Ted Tuppen said: "In a marketplace that is likely to remain difficult for some time, it is especially important that we work closely with our licensees, not only to help them to develop new business opportunities but also to support licensees who are genuinely struggling to deal with adverse market conditions."

Tuppen added that the company had sought to protect itself against the fall in beer sales over the past year by aggressively churning the estate to develop a broader, high quality offering.

During the past 15 weeks Enterprise has acquired 28 pubs for £26m with contracts on a further six pubs exchanged and awaiting completion.

Meanwhile, it has disposed of 10 pubs and two plots of surplus land for £7m, making a profit of £2m.

Enterprise also revealed that they had seen "considerable interest" in the 96 pubs they placed on the market for sale and conversion to alternative use.

Enterprise Inns predicts difficult year ahead for pubs >>

By Christopher Walton

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