Staffordshire pub firm Punch Taverns has put 300 of its worst-performing pubs up for sale in an attempt to raise money.

Sep 25 2009 by Tom Scotney, Birmingham Post

The Burton-on-Trent company, which has debts amounting to billions of pounds, is set to auction the 300 pubs from its ‘turnaround division’.

This was set up to identify the least successful pubs among its thousands-strong portfolio, and either improve them or sell them. The pubs, which are being sold through business agents Christie + Co, are expected to bring in anything up to £500,000 each for the freeholds. A spokesman for Punch said: “Some of these sites have already been on the market but they are being relaunched through Christie + Co, many at revised prices, to stimulate interest and secure buyers.”