PwC begins to close troubled brewer's pubs

22 August 2008 In Accountancy

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PwC begins to close troubled brewer's pubs The administrators of troubled brewer Cains have begun to close down some of its loss-making pubs.

PricewaterhouseCoopers (PwC) has yet to disclose the exact locations of which of the chain's over 100 pubs are being closed down.

The Liverpool Daily Post reports that PwC is waiting until all affected staff have been informed before releasing further details.

PwC have released a statement saying that it will "continue to trade" the business and have received interest from "numerous parties" about the chain.

"The challenges faced by the pub sector are well-known and, consequently, it is not surprising that, within the Cains Group portfolio, there are loss-making pubs which are not likely to realise any value for the creditors in the administration," it read.

PwC recently revealed that it could revamp its business structure to allow the firm's strongest arms to help develop emerging markets, the Financial Times reported.



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