Brewer Greene King has put up to 150 of its pubs up for sale and revealed that the head of its pubs division is leaving.
The 227 year old company is one of Britain’s biggest pub operators with 2,500 premises across the UK.
However it has said it is placing about 300 of its managed pubs in a separate unit with about half of those earmarked for sale and the rest converted to leased and tenanted, or franchise models.
At the same time, Greene King has said it will close about 20 pubs. The company said the shake-up of the managed estate will enable “greater and more focused investment into the core portfolio.”
It comes as the industry struggles with a “perfect storm” of rising employment costs, high inflation, and customers spending less on nights out.
London city centre pubs are likely to also suffer a loss of trade from a wave of Tube strikes over the next three months.
Nick Mackenzie, chief executive of Greene King, said: “We are confident that our new pub estate strategy will set us up to deliver sustainable profitable growth for the long-term as consumer habits continue to evolve and the operating environment remains dynamic.
“The realignment of our estate – which leverages our strategically important Pub Partners business – enables us to play to the strengths of our brands, capitalise on our investment in digital and loyalty, invest effectively in our core portfolio and, most importantly, continue to deliver exceptional experiences for our customers.”
At the same time,Zoe Bowley, former managing director of PizzaExpress, is to step down as managing director of Greene King Pubs.
Bowley, who spent more than 12 years at PizzaExpress, including as its managing director for five and a half years, initially joined Greene King in an interim role in October 2023 to help develop its Metropolitan Pub Company division and lead its Crafted Pubs business. In September 2024, she became a permanent managing director of Greene King Pubs.
Mackenzie told the Propel hospitality news website: “I would like to thank Zoe for her leadership, counsel and the important role she has played in strengthening both our Greene King pubs over the past few years, and before that, our Metropolitan Pub Company business.
“Zoe has decided that now is the right time for her to step down, but she will continue to support the business through a period of transition. Zoe will always be part of the Greene King family, and I wish her every success in the future.”
