Wetherspoons boss's warning over pub debts

Wetherspoons boss Tim Martin has warned that private equity-owned pubcos are too burdened with debt to invest in their struggling estates.

Martin said that this debt, along with overzealous regulation, was "running down" the institution that is the British pub.

He added: "A number of private equity- owned pub companies, which are actually making huge losses after [paying] interest . . . are going to have financial problems - that's going to be the dominant headline for the next two years.

"Landlords have been paying too much rent and are unable to provide service and prices that are attractive enough to customers."