A group of super-rich tycoons based in the Caribbean has seized control of Britain’s biggest listed pub chain.
Mitchells & Butlers, which owns the Harvester, Toby Carvery and All Bar One chains, unveiled plans to raise £350m in new equity in a bid to see out the pandemic.
Read the full article on This is Money website
NAM Implications:
- The first of many post-lockdown opportunities (and threats).
- “M&B is burning through up to £40m per month…
- …while its 1,600 pubs are shut under the UK-wide lockdown.
- It is also facing a £50m bill to service its debt next month”
- The above says it all….
- It can safely be said that in future there will be an intensive focus on financial performance at M&B.
- i.e. real opportunities for NAMs that can calculate cost and demonstrate value to the M&B Balance Sheet and P&L…
