Pub group Marston’s has secured covenant waivers and amendments, and is set to reopen around 700 pubs next week.
The firm has obtained waivers and amendments to its bank, private placement and securitised facilities for the financial periods up to and including 1 January 2022.
The waivers were approved for two-quarter tests to 2 October and a four-quarter test to 1 January next year.
Marston’s said it expects to reopen around 70% of its managed and franchised pubs in England with outdoor spaces on or around 12 April.
Subject to final regulatory confirmation, it aims to reopen the majority of its Scottish and Welsh pubs on 26 April.
The firm sais that the remaining managed estate in England should open on or around 17 May, according to the government’s roadmap, with restricted indoor trading. It has assumed a return to normal trading conditions from 21 June.
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