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Monday, 01 September 2014

Tchenguiz's gloomy milestone in pub securitisation

Globe rotting

Securitising UK pubs was de rigueur in the boom. But declining interest in oldstyle boozers has accelerated in the credit crunch. Supposedly secure cashflows are now anything but. Globe, run by tycoon Robert Tchenguiz, is the first to break covenants. It won t be the last.



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