Heineken chief predicts more pubs to close

MORE pubs will close in the coming months as banks cut back on overdraft finance, forcing publicans to operate on a cash basis, Heineken Ireland managing director David Forde predicted yesterday.

Mr Forde said banks are not lending at the moment.

“Trade working capital is severely constrained at this moment in time, despite some rhetoric from the banks. The banks are just not lending and they are squeezing, in many cases some very good businesses in the market,” he said at the Cork Chamber Business Breakfast in association with the Irish Examiner.