Tue, 03 Mar 2020 | COMMERCIAL PROPERTY
Welsh brewer and pub operator SA Brain & Co has announced that it will look to sell 40 pubs that are not core to its operations, as it looks to streamline its business.
The Cardiff-headquartered company has outlined a three-year plan to grow profitability and future-proof the business, which involves selling 40 of its 200 locations and reorganising its support centre.
The company has engaged Cardiff based real estate adviser Avison Young to handle the sale of the locations.
A spokesperson for the company said that the sales were due to an uncertain economic climate during the Brexit process and increasing costs.
The spokesperson said: "We shall manage this difficult process with respect and care, recognising the loyalty and commitment of all of our colleagues to Brains.”
"We will carry out these changes over the coming months to ensure that we have sufficient time to make proper provisions for any colleagues affected and to minimise the impact of these changes."
Brains also said it would “reorganise our support centre to create a leaner and more agile business".
The group’s most recent accounts, to the year ending 29 September 2018, show that it saw turnover of close to £117 million, a decrease of 5.2 per cent from the previous year, and that it held net assets of £75.8 million.
SA Brain will also use the money generated from the sales to help pay off facilities provided by HSBC and Lloyds.
It was founded in 1882 and controls over 250 pubs in South and Mid Wales and the West Country. In 2017, it sold its eight English pubs to Butcombe Brewery.
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