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So I’ve heard through someone an allegation (it’s more than an allegation - comes straight from the horse’s mouth) that Tesco are using property companies to buy up pubs. The property company then does up the pub a bit, runs it as a pub for a bit, then declares the pub unviable, and then ’sells’ it to Tesco who will then convert it into Tesco Metro mini-markets. Tesco fund the whole thing from start to finish.
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Wouldn’t surprise me, I’ve also heard they buy up shops near their expresses and purposefully leave them empty to get rid of competition.
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6/27/2012 2:01:49 PM
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Tesco are scum. End of. Nothing should surprise anyone when it comes to those bastards.
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6/27/2012 2:15:58 PM
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Tesco have been attracted to failed pubs as there’s no need for planning permission. Shops create jobs. Customers use shops. If the property company helps the pub to fail... how’s that different to pubco actions in the past where they’ve sought to divest their property portfolio?
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6/27/2012 2:36:16 PM
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Supermarkets have been doing this openly for some time. As Simon says, it’s because pubs are easily converted to shops as there is no change of use.
Some pub owners, such as Greene King, will actively try to sell a failing pub to a supermarket or a pizza chain rather than simply close it down and board it up.
I love pubs. But the reality is that life has changed, society has moved on, and there are too many pubs chasing after too few customers.
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6/27/2012 3:19:07 PM
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6/27/2012 3:24:35 PM
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6/27/2012 3:26:24 PM
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6/27/2012 3:27:33 PM
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As a general policy it’s hard to see why Tesco would want to do this because, as others have said, there is no change of use involved so conversion is relatively easy. Property developers and pubcos seeking a change of use will often use this running down tactic. Unless Tesco have targeted a particular locality and a viable pub is the only suitable property it’s just going to cost them more. I guess that might be the case in some instances. Otherwise I imagine there are generally premises that are occupied by failing businesses that could be picked up more cheaply than viable pubs.
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6/27/2012 4:43:22 PM
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But I do really dislike Tesco.
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6/27/2012 4:48:30 PM
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Originally posted by chriso
But I do really dislike Tesco.
Tesco in particular or supermarkets in general?
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6/28/2012 12:54:07 AM
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