Greene King to sell 150 pubs amid fears Brits cutting back on spending

The boss of pub company Greene King has said 150 of its pubs will be put up for sale as "unprecedented" costs are hammering the hospitality sector. The company, among Britain's biggest chains, is planning to sell off up to 150 pubs in March, with chief executive Nick Mackenzie blaming the decision on soaring costs and "changing consumer behaviour". The company also plans to shift 300 pubs into a separate division, chief executive Nick Mackenzie told City AM, with half destined to become leased or tenanted establishments and the other half marked for disposal. Greene King also produces Greene King IPA, Old Speckled Hen and Belhaven beers. The Chinese-owned pub company is facing unprecedented costs, Mackenzie said. Delivering the company's annual results he said: “Long-term permanent reform from government is essential to ensure that unprecedented costs do not hold back the enormous potential of the sector." This is a Breaking News story. You’ll be more likely to see our stories when any big news breaks in future by simply by clicking this link . You can also join The Mirror’s WhatsApp Community or follow us on Google News , Flipboard , Apple News , TikTok , Snapchat , Instagram , Twitter , Facebook , YouTube and Threads - or visit The Mirror homepage .