Mitchells warns over property costs

All Bar One and Harvester owner Mitchells & Butlers today said costs linked to its shelved property deal had more than doubled amid the current credit crisis.

The group, which operates around 2,000 pubs including the O’Neills brand, said its liability from the planned joint venture with property entrepreneur Robert Tchenguiz had risen to £140m (€200m), up from £60m (€84m) at the end of July.