Fanshawe Lofts corporate recovery firm have reported an increase in UK pub landlords seeking advice on how to deal with financial problems, with many forced to put their businesses in to liquidation.
The credit crunch and anti smoking laws are among the main reasons being cited for this alarming trend. The introduction of the anti smoking laws in the UK in July last year led to the industry claiming that 5% of public houses would close within the year. That figure is expected to rise to 6% or 7% .
Landlords who are looking to sell up are being asked to price their business realistically, with some reports suggesting reductions of up to 60% of asking prices.
Witherspoon’s, with its network of public houses reported last year that the smoking ban had increased the number of customers who ate in their establishment’s and that may be a way forward for the smaller businesses.
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