Brewer Greene King has announced plans to sell up to 150 of its pubs and close around 20 more as part of a major restructuring of its managed estate. The 227-year-old company, which operates 2,500 premises across the UK, said it will place about 300 of its managed pubs into a separate unit, with half earmarked for sale and the remainder converted to leased, tenanted, or franchise models.
The shake-up comes as the hospitality industry faces a 'perfect storm' of rising employment costs, high inflation, and reduced consumer spending on nights out. London city centre pubs are also expected to suffer from a wave of Tube strikes over the next three months. Chief executive Nick Mackenzie said the realignment will enable 'greater and more focused investment into the core portfolio' and set the company up for sustainable profitable growth.
At the same time, Zoe Bowley, managing director of Greene King Pubs, is stepping down. Bowley, former managing director of PizzaExpress, joined Greene King in an interim role in October 2023 and became permanent managing director in September 2024. Mackenzie thanked her for her leadership and said she will continue to support the business through a transition period.
