Punch raises Pounds 350 million to cut back debt mountain [Edition 2]
Evening Standard - London › June 15, 2009
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Summary
PUNCH Taverns set about raising Pounds 350 million from shareholders today as it seeks to pay down a crippling debt pile of Pounds 4.2 billion and convince sceptics that it is through the worst of the crisis in the pub industry.
Britain's biggest pub company -- it has 8,000 of them -- has been under intense pressure from investors, the Government and some of its own landlords in the last year.See the full content of this document
Extract
Punch raises Pounds 350 million to cut back debt mountain [Edition 2]
With profits wiped out and dividend payments withheld, some have asked whether Punch's business model is sustainable.
Si...See the full content of this document
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