{"id":3616,"date":"2023-07-21T11:01:54","date_gmt":"2023-07-21T11:01:54","guid":{"rendered":"https:\/\/londondrinker.camra.org.uk\/wordpress\/?p=3616"},"modified":"2023-07-25T17:22:41","modified_gmt":"2023-07-25T17:22:41","slug":"trade-news-july-2023","status":"publish","type":"post","link":"https:\/\/londondrinker.camra.org.uk\/wordpress\/index.php\/2023\/07\/21\/trade-news-july-2023\/","title":{"rendered":"Trade news – July 2023"},"content":{"rendered":"\n

WETHERSPOONS NEWS<\/strong><\/p>\n\n\n\n

A second pub in London has been sold. This is the Angel<\/a> in Islington (see under Urban Pubs & Bars below). <\/p>\n\n\n

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At 13 July, there were still 13 pubs in London which were either available or under offer. It is understood that at least one further pub has been withdrawn from sale following an increase in its sales. According to the Propel Newsletter, during their current financial year, JDW has sold, closed or surrendered the leases of 28 pubs. 15 were leaseholds where the lease had expired or a break clause had been activated. The sales brought in \u00a36.5 million. The company said that \u2018almost all are related to circumstances where there is another Wetherspoon pub nearby\u2019. JDW still have 827 pubs and have opened three new ones this year.<\/p>\n\n\n\n

Recent sales figures showed an increase of 11% compared to pre-pandemic levels and Tim Martin told Propel, \u201cThe company expects profits in the current financial year to be in line with market expectations.\u201d<\/p>\n\n\n\n

YOUNG\u2019S NEWS<\/strong><\/p>\n\n\n\n

Young\u2019s continue to purchase pubs, at least a dozen recently, including three from Marston\u2019s Revere brand. All of the sites are \u2018out of town\u2019, except for the Stag<\/a> in Hampstead. Some have hotel potential. Young\u2019s have also spent some \u00a360 million on improvements to their existing pubs. Much of this money has been spent in London, examples being the Marquess of Anglesey<\/a> in Covent Garden and the Hare & Hounds<\/a> in East Sheen.<\/p>\n\n\n

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There were changes announced at the company AGM on 6 July. Steven Goodyear is standing down as non-executive chairman and will retire from the board at the next AGM. His replacement will be Steve Cooke, who joins the company from international law firm Slaughter & May.<\/p>\n\n\n\n

It appears to be common knowledge now that, following Carlsberg Marston\u2019s (CMBC) sale of the Eagle Brewery in Bedford, the brewing of Young\u2019s brand beers was transferred to Ringwood Brewery in Hampshire. However, in June, CMBC announced that they were putting both the Ringwood brewery and their beer brands up for sale. At least CMBC are not just closing down Ringwood as they did with Jennings and hopefully Ringwood\u2019s heritage will be retained (even if it does only go back to 1978!) and people will keep their jobs.<\/p>\n\n\n\n

URBAN PUBS & BARS<\/strong><\/p>\n\n\n\n

As mentioned above, UPB have acquired the lease of the Angel from Wetherspoon\u2019s and have renamed it the Junction. In Putney, they have acquired the former Revolution Bars outlet which was once the Railway (ex Wetherspoon\u2019s). UPB have also acquired the former Sports Bar & Grill site on the balcony at Waterloo Station. They will be renaming it the Victory, presumably after the station\u2019s iconic entrance. UPB now have some 41 bars and restaurants in London.<\/p>\n\n\n\n

OTHER PUB TRADE NEWS<\/strong><\/p>\n\n\n\n

As mentioned in the last edition, Fuller\u2019s are converting a number of their managed houses to tenancies. So far, this has included the Builders Arms<\/a> in East Croydon and the Grade II-listed Castle<\/a> in Harrow. Market Taverns have acquired the Spencer<\/a> on Putney Common while Antic have refurbished and reopened the Bird in Hand<\/a> in Forest Hill. One of the former Antic pubs that was repossessed because of rent arrears, the Grade II-listed Leyton Technical<\/a>, has now been taken over by the Remarkable Pub Company.<\/p>\n\n\n\n

BLACK SHEEP SOLD<\/strong><\/p>\n\n\n\n

Further to the reports in the Brewery News column, Breal Capital also emerged as the new owners of the Black Sheep Brewery. They acquired the Masham, North Yorkshire, based brewery out of administration. A source at the brewery said that this meant that the brewery \u2018would continue to produce its beers and the deal would protect jobs\u2019. The brewery\u2019s three pubs in Leeds and York have however been closed with immediate effect.<\/p>\n\n\n\n

ADNAMS NEWS<\/strong><\/p>\n\n\n\n

In an interesting reflection of the current trading situation, in the year ended 31 December 2022, Adnams saw sales increase to \u00a364.2 million (from \u00a357.4 million in 2021) yet registered an operating loss of \u00a31.2 million. Beer volumes increased by 2.7%. One interesting new venture concerns the famous Southwold lighthouse, which Adnams now own. You can book tours through Adnams\u2019 website<\/a>. There is a 113 step spiral staircase to contend with but the views from the top are stunning and the ticket includes a drink in the Sole Bay Inn afterwards.<\/p>\n\n\n\n

MORE TENANTED PUBS SOLD<\/strong><\/p>\n\n\n\n

Another brewery\/pub company has sold off its tenanted pubs. This time it is Hartlepool based Camerons. They have sold 27 pubs to a new pub company called FB Taverns which is owned by someone who the Propel News Briefing describes as a \u2018high-net-worth individual\u2019. This brings FB\u2019s estate to some 40 pubs, mostly wet-led community pubs in the north-east of England. Camerons still have 47 pubs across the UK, including the Head of Steam outlets.<\/p>\n\n\n\n

NO MORE BOTTLE-CONDITIONED PEDIGREE<\/strong><\/p>\n\n\n\n

Carlsberg Marston Brewing Company (CMBC) has discontinued the bottle-conditioned version of Pedigree. The reason given was \u2018declining sales and rising costs<\/em>\u2019. I have to admit that I didn\u2019t know that there was a bottle-conditioned version. Perhaps better advertising would have helped. CAMRA\u2019s national chairman, Nik Antona, a resident of Burton on Trent, described the decision as a \u2018great shame<\/em>\u2019 and added, \u201cFortunately, many other brewers across the UK still embrace bottle conditioning and CAMRA\u2019s One to Try scheme helps consumers identify these brews<\/em>.\u201d You can find details of the One to Try scheme here<\/a>. <\/p>\n\n\n\n

The Marston\u2019s brewery in Shobnall Road houses the one remaining working set of Burton Unions. In the days when Marston\u2019s were an independent company, the draught Pedigree brewed using the Unions was reserved for Marston\u2019s tied houses in the Burton area. I wonder if this arrangement still holds.<\/p>\n\n\n\n

ANCHOR TO CLOSE<\/strong><\/p>\n\n\n\n

The Anchor Brewing Company in San Francisco was one of the pioneers of what became the craft beer movement in the USA. Sadly, after 127 years, it is closing its renowned Potrero Hill brewery. A spokesperson said, \u201cEconomic pressures have made the business no longer sustainable.\u201d The spokesperson added that \u2018repeated efforts\u2019 to find a buyer had failed. 61 people have lost their jobs. Ironically, ABC has not been part of the craft beer movement since 2017 when it was taken over by Japanese brewers Sapporo. In 2022, Sapporo also added Stone Brewing of San Diego to their portfolio and this is where they brew their own brands for sale in the USA.<\/p>\n","protected":false},"excerpt":{"rendered":"

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