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Last drinks for pubs facing financial pressure
Released 2 February 2011

It is estimated that up to 90 per cent of pubs currently on the market are facing financial pressure, according to a report published in The Australian on 27 January 2011.  

A senior industry figure told the newspaper, under anonymity, that the vast majority of pub sales are “distressed sales”.

Forecasts for 2011 indicate that the debt-laden sector will incur a further softening of yields, which have already resulted in a 40 per cent fall in pub values.

NSW has taken the brunt of the receiverships, with 35 since 2008. The most recent was the Icon Hospitality Group – the largest tenant of the troubled ING Entertainment Fund.