Hong Kong buyer CKA wants the chain’s cheap property portfolio, and pub closures will surely follow
The number of pubs in Britain has been falling for many years. Changing consumer habits and the availability of cheap supermarket offers has resulted in boarded-up and demolished boozers all over the country.
In the short run, therefore, the agreed sale of the pub and beer business Greene King to the Hong Kong property company CKA looks like good news. On closer inspection, it is a classic case of glass half empty, glass half full.