A number of Mitchells & Butlers (M&B) franchisees are tabling bids to buy their freeholds as today’s deadline for “full and final offers†arrives.
Paul Thompson, of Acorn Commercial Finance, said he has received 20-plus enquiries from franchisees on how to fund an acquisition.
He said: “There are lots of bids in different stages and some bids will be going in today. One month’s notice was given by M&B on this, which is not a particularly generous timescale for a private buyer.
“One client who wants to bid for his pub had a two-week holiday booked for two days after the M&B announcement.
“Some pubs have an asking price against them, others don’t. Quite a few are putting in a bid not backed up with funding at the moment — and there is no indication on whether this is acceptable.
Carry on reading…