Pub group Punch Taverns has delayed its planned debt restructure which was supposed to conclude today. The company had originally proposed a debt restructure in January but the plan was rejected by shareholders.

In a statement, the company said: "The board continues to believe that a consensual restructuring is required to avoid a near-term default in the Punch A and Punch B securitisations, which would have material adverse consequences for all stakeholders and, in particular, for shareholders."