The Pub Governing Body has today published its annual audit of companies operating up to 499 leased and tenanted pubs and covers the period 1st August 2020 – 31st July 2021.
Conducted in what has been an unprecedented year due to the Covid 19 pandemic, thisis the fifthaudit to take place since the new codes of practice came into effect for those companies operating 1-499 tied leased or tenanted pubs. A full list of those companies covered by each code can be found in Annex A of the report.
The audit found full compliance regarding both business plans and the number of rent reviews settled within the audit period, apart from those which had to be delayed as a result of Covid 19.
Commenting on the fifthannual audit report, Pub Governing Body Chairman Sir Peter Luff said:
“The board of the Pub Governing Body attaches great importance to this annual survey of the compliance of companies governed by our Codes. This has been a second very difficult year for all pubs -and we hope the easing of restrictions imposed due to the Covid-19 pandemic will not be reversed –but we are very pleased to see that, despite these unprecedented challenges, a high level of compliance has been maintained.
“The industry can take pride in five years of sustained compliance, as the climate in which pubsoperatereturnsto something closer to normality. However, there are two particular areas where we believe companies will need to be diligent if this record is to be continued into a sixth year–ensuring BDMs are properly trained and settling outstanding rent reviews at the earliest opportunity.
“The year has also seen changes in the structure of the industry,but we believe the work of the PGB remains a vital component in continuing confidence among tenants, commentators and politicians in the effectiveness of self-regulation of smaller pub companies.
“It remains the clear view of the board that the Pub Governing Body and its associated Codes are together proving that self-regulation is both effective and unbureaucratic. Crucially, self-regulation can respond quickly to changing circumstances and the board will remain alert to any need for changes that may be necessaryas the industry continues to evolve.”