Pubs sell-off will help S&N refocus
25 January 2001
Scottish & Newcastle (S&N) has announced a reorganisation of its pub and retail divisions.
It is selling off 740 of its 2,373 managed pubs and switching 180 to leased outlets.
S&N said it was doing so "to focus the business on high-turnover, high-quality, high-margin outlets in four market sectors". These are: pub-restaurants; lodge hotels; branded pubs and bars; and large traditional pubs.
S&N chairman Brian Stewart said: "Our focused retail estate will deliver double-digit earnings growth."
Restructuring in its brewing arm, Scottish Courage, will lead to the loss of 1,300 jobs over four years.
