Marston’s set to reopen 700 pubs as financial waivers secured

Pub group Marston’s has said that it has secured waivers and amendments its financial covenants and that it will reopen around 700 of its venues next week.

The Wolverhampton company has negotiated waivers to its bank, private placement and securitised facilities for the financial periods up to and including 1 January 2022.

Meanwhile, the firm expects to reopen around 70% (around 700) of its managed and franchised pubs in England with outdoor spaces on or around 12 April and, subject to final regulatory confirmation, and the majority of its Scottish and Welsh pubs on 26 April.

A statement from Marston’s this morning (April 7) said: “On the basis that the stated reopening roadmap set out by the Government is adhered to, the remaining managed estate in England should open on or around 17 May with restricted indoor trading, and we are assuming a return to normal trading conditions from 21 June.”

The company will announce its interim results for the 26 weeks ended 3 April 2021 on 19 May 2021.