M&B to sell off six capital bars in latest disposal

MIDLANDS pubco Mitchells and Butlers is continuing with its disposal strategy after off-loading six pubs in the capital.

The deal it is close to finalising with London-based company Faucet Inn includes two gay bars.

A spokesman for Birmingham-based M&B said the sales were part of the company’s on-going tactic of selling its drinks-led pubs which it announced in March.

He added that, unlike in other recent sales, the sextet of pubs did not come from a specific division of M&B and no further announcement would be made by company at this stage.

The deal with Faucet Inn, which operates around 20 pubs in London and the south, is expected to be completed later this month.

Last month M&B announced it was planning to dispose of 333 of its ‘non-core’ pubs for a cash consideration of £373m to the Stonegate Pub Company.

This followed earlier announcements that M&B was disposing of its Hollywood Bowl chain and Innkeeper’s Lodges to hotel chain Travelodge in July.