Brewing giant Scottish & Newcastle is poised to begin the process of further whittling down bids for its £2.3bn pubs business. The deadline for the second stage of the auction process passed on Friday, although it is likely to be some time before a final short list is drawn up. The Edinburgh-based company announced in April that it planned to sell its retail estate of 1,450 pubs and restaurants. The business features the Chef & Brewer and T&J Bernard chains. The disposal of the retail arm, which also includes the Premier Lodge budget hotel business, will enable S&N to focus on its core brewing business as well as to strengthen its balance sheet.
