Mitchells & Butlers to sell off 300 pubs

PUB and restaurant group Mitchells & Butlers is preparing to sell hundreds of pubs to focus on core brands and raise cash, it has been reported. All Bar One and Harvester owner M&B has hired advisory firm Sapient Corporate Finance to handle the sale of at least 300 pubs as it seeks to concentrate on mid-market eateries.

The group announced it was to reshape the business in March following a strategic review launched in the wake of a controversial boardroom coup. It is thought the planned sale of the pubs could also net the group around 500 million.