Mitchells & Butlers (MBPFY)(MBPFF) is a U.K. based group operating a number of bar fascias. Its brands include All Bar One, Browns, Ember Inns, Harvester, Miller & Carter, Nicholson's, Sizzling Pubs, Toby Carvery and Vintage Inns. It has some lovely pubs with great ale in its estate.
COVID-19 and lockdown have swung the spotlight onto its challenging trading conditions, but the underlying financial structure of the company means it has limited obvious upside for shareholders even without the additional risks brought on by COVID-19 and lockdown. Despite a historically low share price, I would sell