Irish investors McManus and Magnier back pubs plan to get M&B through Covid-19 crisis         

Mitchells & Butlers, which owns various pub chains including All Bar One, was in a race to raise new funds ahead of a debt repayment scheduled for mid-March.               

Irish investors JP McManus and John Magnier are backing plans for a £350m (€400m) sale of shares by struggling UK pubs group Mitchells and Butlers (M&B), as they aim to get its Covid-shuttered 1,600 outlets through the crisis and reopened under Britain's swift vaccination programme.    

Mr McManus and Mr Magnier hold a stake of around 23.5% in M&B through their vehicle called Elpida and appear intent to maintain their shareholding by participating in the shares raise.