Is the British Pub Dying, and Might Starbucks Kill It?

Anthony Pender, founder of the Yummy Pub Co. chain and chairman of the British Institute of Innkeeping, told me he regards Starbucks as "the most serious threat" to the industry. He also owns a coffee shop that generates much higher profit margins than his pubs; Starbucks, he says, will be able to make publicans an offer they can't refuse, inheriting properties with ready-made licenses to sell alcohol.