Bar jobs to be created as Mitchells & Butlers sells 333 pubs?

24/08/2010 12:18:37

Hundreds of bar jobs could be created across the UK as Mitchells & Butlers is selling 333 of its pubs.

Stonegate Pub Company Limited, which is controlled by TDR Capital LLP, is purchasing the establishments for around £373 million.

This move is part of Mitchells & Butlers' plan to withdraw from late night high street bars and venues and the lower price, drinks-led market.

John Lovering, chairman at Mitchells & Butlers, said he was "delighted" with the progress that was being made on reshaping the firm's portfolio.

"The cash resources released by the sale programme will allow the company to accelerate its growth into the informal eating out market," he added.

Earlier in the month, the Orchid Group announced that it was mid-way through a £1.5 million investment programme to refurbish its pubs, clubs and bars.

Once the programme is complete, many new bar jobs could be created in the newly fitted-out establishments.

Posted by Ed Warle

Bar jobs in the UK

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