Greene King to Sell or Convert 300 Pubs, Close 20

Greene King, Britain's second-largest pub operator, announced on Wednesday a major overhaul of its estate, placing up to 150 pubs at risk of sale and planning to convert another 150 to leased, tenanted or franchise models, while closing about 20 locations across the United Kingdom.

The company, which manages around 1,500 directly operated pubs under brands including Greene King, Hungry Horse, Chef and Brewer, Farmhouse Inns and Flaming Grill, identified 300 sites as better suited to alternative operations. These venues will transition into a new, separate business unit designed to simplify management during the changeover. Officials stated that the closures represent fewer than 2 percent of the managed estate and align with the group's typical annual activity. No specific list of affected sites has been released, though the company operates dozens of pubs in regions such as Essex, Wales and Birmingham. The remaining 1,200 or so managed pubs will continue unaffected for several years.

The strategy aims to address evolving consumer habits and a challenging economic landscape for the hospitality sector, including high inflation, rising employment costs and reduced customer spending...