Crunch puts squeeze on Enterprise REIT plans

  Enterprise Inns, the UK’s second largest pubs group, this morning said it had shelved plans to convert into a Real Estate Investment Trust because of the turmoil in the financial markets.   Enterprise Inns, which has about 7,700 tenanted pubs said it was “adopting a cautious approach to the costs and processes” of conversion to REIT status because the Board does not “consider it appropriate to seek the consent of bondholders at this time”.   The group said it is continued to “explore the options and to develop a solution which is demonstrably in the best long term interest of all stakeholders”. paul.norman@egi.co.uk