Morning Advertiser:
Mitchells & Butlers (M&B) has given its franchisees until Wednesday 30 June to submit “full and final offers†to buy the freeholds of their pubs.
Franchisees have been receiving phonecalls from their area managers giving them the heads up on the offers deadline.
It is understood that some franchises have been furnished with the freehold value of their pubs.
One franchisee told the Morning Advertiser: “There is no priority for franchisees but I was told that if my bid is ahead of the market value I could well get it.
We are getting the chance to acquire the freehold although M&B is obviously keeping its options open.â€
The company has just under 90 franchised pubs with an average weekly turnover of around £13,500 per pub per week.
