Norfolk Broads - The Forum - Ferry Inn, Horning

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thirdmate

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If Punch have bought it god help us. Yes they owned the Maltsters as well and also The broads haven at potter.

With these guys as owners you can bet on more people going bust under the weight of the daft lease agreements. Makes my life living on broadland a nightmare when looking for a decent place have a drink.

Andy

"I have not failed. I've just found 10,000 ways that won't work."

This message was edited by PizzaLover on Dec-22-08 @ 1:55 PM

Boatboy

Dec-22-2008 @ 5:34 PM

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the problem with Punch Taverns, as I have discovered recently, is that they often don't actually own the pub themselves. They lease from the owner and then lease on to a landlord, with lots of very restrictive conditions attached.

This lease on lease arrangement means that three people are trying to make a profit on the place, the last of those, the landlord is often the one who loses out because of the terms of the lease.

If Punch have acquired the Ferry, then it is anything but good news.

adrianh

Dec-23-2008 @ 1:35 PM

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According to a story on The Publican's website this morning - http://www.thepublican.com/story.asp?storycode=62265 - the Ferry (listed as "Ferry, Norwich"!) is one of the pubs that Orchid couldn't find a buyer for, so is to close.

This message was edited by adrianh on Jan-20-09 @ 2:32 PM

swan_ranger

Dec-23-2008 @ 2:00 PM

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I may be wrong about this, but it is my understanding that three separate companies own the freehold on The Maltsters, all of them major shareholders in Punch Taverns who lease it from them. I don't know who the shareholders of Orchid Group are but I would not be suprised if the same three companies did not figure in there somewhere. Who are they?, only the Spirits know.

Charlie

Boatboy

Dec-23-2008 @ 2:24 PM

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is it just my suspicious nature, or is this all starting to smell of something unpleasant?

a, b and c own pub x, they also own company y. a, b and c lease pub x to company y which in turn leases pub x to company z, company z goes in to administration, then immediately out again with a deal which sees pub x's lease being bought back by company y.

why are those chain letter scams of the 80's coming to mind, where a lot of money went up the chains to the people at the top, and a lot of people at the bottom lost out?

VetChugger

Dec-23-2008 @ 6:13 PM

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The "unpleasant smell" has been around a lot longer. It started when the government of the day forced breweries like Carlsberg Tetley to sell off their tied houses. It was immediately apparent that the brewers would be replaced by finance houses and the results of the unquenchable thirst for unconditional profit are becoming more and more obvious.

I'm not saying things were perfect under the Brewers but they were definitely better. Niether am I saying that these finance bloodsuckers are the only cause.

Trevor

www.normanboats.co.uk

kfurbank

Dec-23-2008 @ 6:59 PM

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This probably adds some weight to what Colin & Sarah and Swanranger have already said.

I walked past The Grand Hotel at Southend, actually it is Leigh-on-sea but classed as Southend and not very grand, and it has just closed with notices in all windows saying it has been taken over by Punch Taverns and will re-open shortly.

Keith

On a proper saily 25th August, Hathor.

teddy

Dec-23-2008 @ 9:58 PM

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Well, they seem to be everywhere just outside our small village (Overstone) we have a posh pub/eatery called the Overstone Manor with notices on windows etc , Saying Taken over by Punch taverns, temporarily closed. Hundreds of people had booked xmas dinners.

SteveO

Dec-23-2008 @ 10:56 PM

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SteveO

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This sounds worse and worse. So what happens to The Ferry now? It is staggering that organisations like Punch or even Orchid seem to be incapable of taking a pub in a prime location like The Ferry and making it into a going concern, whereas M&B has provided an object lesson on how this can be done, just up the road in The Swan.

Steve
Wishing I was back on the Broads

billmaxted

Dec-24-2008 @ 8:49 AM