Whilst the Red Lion’s owner Punch Taverns & the estate agent that has been instructed to sell the pub, Jones Lang laSalle, decide to play hard ball with Save The Red Lion Campaign, the press reports that Punch Taverns has now admitted that it could be unable to continue trading as it is struggling to service its £2.3bn debt!
During this year Punch Taverns have disposed of 433 pubs which brings the total that it has sold since 2011 to 1,100. Punch Taverns has a further 1,200 pubs, including the Red Lion, that it intends to dispose of over the next four years.
Coverage of Punch Taverns latest woes is in today’s Telegraph and it can be read at - http://www.telegraph.co.uk/finance/10334794/Punch-Taverns-faces-last-orders-over-debt-restructuring.html
Perhaps at some point Punch Taverns & its estate agent will wake up & realise that Save The Red Lion Campaign is likely to be the only interested buyer. They need to start to engage with the Campaign in a positive & meaningful way.