Yeah. I’m still none the wiser.
Makes sense. Antic seems to have had an interesting history…
I seem to remember that there was a change of ownership / change of holding company - went looking and found this report from 2013: https://www.bighospitality.co.uk/Article/2013/02/20/Antic-Limited-pubs-out-of-administration.
Limited Life Funding normally relates to a fixed term Private Equity fund which investors pay into and is used by the fund manager to make careful and astute (you hope) investments in promising looking companies.
As the fund itself is ‘limited life’, there will be a pre-agreed date on which the fund stops making new investments and is subsequently be wound up. Typically a fund invests in new projects for six years and is wound up in 10 years.
So I guess that if Antic took some capital from such a fund, then its likely the fund is in its wind up phase and is due for repayment - plus interest… I’m assuming that selling off a few of their pubs is their way of meeting that obligation.
Hopefully it’s bought as a going concern! Unlike the much-lammented (by me at least) Battersea Mess in Clapham Junction
Some of those are still pretty new! Suttons in Lewisham and Walker Briggs. Both nice, both a year old or less.
Unless Antic decide to do another fake windup.