Company in the news: Punch Taverns

Punch Taverns (LSE: PUB) has had a dramatic fall from grace. Its debt-fuelled business model saw it become Britain’s biggest pub landlord during the credit boom. The bust that followed all but destroyed the company. And it is not out of danger.

Its finances are still a complete mess – it owes £2.3bn of debt, but has just £119m of tangible equity, according to its last annual report.

The company is trying to dig its way out of this gigantic hole. Its plans rest on convincing 75% of its bondholders and shareholders to accept a £600m debt-for-equity swap [...]

MoneyWeek magazine

Latest issue:

Magazine cover
Don't be spooked by Putin

Take a punt on eastern Europe

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues
Shale gas 'fracking' promises to transform Britain's energy market. Find out what it is, what it means, and how to invest.

Which investment platform?

When it comes to buying shares and funds, there are several investment platforms and brokers to choose from. They all offer various fee structures to suit individual investing habits.
Find out which one is best for you.