Family-owned pub and brewing business SA Brain & Co has confirmed it is selling 40 of its pubs in move which it said would future proof the business.
Following a review it has appointed property advisory firm Avison Young to sell the pubs, both managed and partnership (tenancies) and which represents around 25% of its pub estate, over the coming months.
It has not named the pubs affected or the job loss implications, saying it was a matter of commercial sensitivity. Brains currently has 160 pubs.
It said the pubs impacted were no longer seen as core to the business, and while a quarter of its estate, don't generate anyway near 25% of Brains' turnover.
The business currently employs more than 2,000.
Brains (its brand name) said the move, with proceeds from property sales being reinvested back into the business as well as being used to reduce its debt exposure with banks, was part of a three year plan to grow the profitability of the business and "future proof it for the benefit of generations to come."
It said it is facing a tough trading climate with continued uncertainty over the 海角视频's future trading relationship with the European Union and rising costs with the National Living Wage set to rise above the rate of inflation.
In a statement the company said: "After a thorough review, we have identified around 40 pubs - both managed and partnership - which are not core to our business. We have engaged the team at Avison Young in Cardiff to sell these over the coming months. We have briefed all of the teams in the selected pubs.
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"The proceeds of these sales will enable us both to improve the quality of the rest of our estate and to repay some of the facilities provided to us by our bank partners, HSBC and Lloyds.
"Regrettably we will require fewer people to provide services to our pub estate once the sales are completed and so we will reorganise our support centre to create a leaner and more agile business.
"We shall manage this difficult process with respect and care, recognising the loyalty and commitment of all of our colleagues to Brains. We will carry out these changes over the coming months to ensure that we have sufficient time to make proper provisions for any colleagues affected and to minimise the impact of these changes."
Brains is hoping that as high a number of pubs as possible could be acquired by a new single owner and continue to operate as pubs selling Brains beers and craft ales.
This could see current managed pub staff transferring over to any new owner [s].
However, it could see a number of pubs sold for alternative use.
With plans to launch its own lager - a product that makes up around 60% of all beer sales - Brains is optimistic that its brewing volumes will not be unduly impacted.
Last year it sold a majority stake in its coffee chain business Coffee#1 to Caffe Nero.