Pub Companies - Business and Enterprise Committee Contents

Further supplementary evidence from Nigel Wakefield

  I have just listened to the first phase of the inquiry and I noticed that they were asking for comments.

  One question by one of the Committee was evidence of hardship, the Welfare Section of the Licensed Trade Charity would be delighted to give you details on the increase of people in trouble that they have and that is only a small section.

  Reasons for people to go to Pub Co's, they believe the Web Sites, publicity, agents selling the leases and the Pub Co's selling their own repossessed leases, with hindsight they cannot believe that they were so gullible and the fact that these are big National Companies and they sign because their Business Plan has been accepted, this is the clincher. I and a Solicitor colleague have never heard of a business plan being queried or rejected in five years.

  The constant reference to comparables in terms of rent assessment, this would be fine if the base rental was correct in terms of viability, but by constant use and misuse the comparables have enabled there to be very upward spiral, since every lessee that capitulates under threat raise the level further.

previous page contents next page

House of Commons home page Parliament home page House of Lords home page search page enquiries index

© Parliamentary copyright 2009
Prepared 13 May 2009