Tennent Caledonian Breweries has frozen its on-trade wholesale prices and granted a three-month debt-repayment holiday to loan customers as the licensed trade is battered by Covid-19 restrictions.
Prices of draught and packaged Tennent’s, Magners and Caledonia Best had been due to increase on 1 April by 1.75% and by 2% on brands including Heverlee and Menabrea.
A three-month payment holiday on capital and interest will be applied automatically to the more than 700 outlets in Scotland where Tennent’s has repayment loans in place.
The licensed trade in Scotland has been left baffled by the UK Government's advice to the public to stay away from pubs and clubs without ordering venues to close.
Tennent’s managing director Kenny Gray said: “The impact of coronavirus is being felt by businesses all over the world but no more so than in the hospitality sector. From reduced customers, to temporary closures, those running a licensed premises are under tremendous pressure.
“The situation is obviously evolving rapidly but we have a dedicated team who are considering ways we can help those affected within our industry. As a first step in this support, we are announcing today that we are postponing our price increase, that was due to take effect on 1 April and that we will be applying a -threemonth payment holiday on capital and interest on our repayment loans to the trade.
"These are uncertain times – but we will try our very best to help those in the trade get through them.”
