Doomed to fail: Irish investors speak out on the cost of Ulster Bank’s British pub deals

At the height of the Celtic Tiger, Ulster Bank marketed investment vehicles concerning English pubs that were being offloaded by their owner. But things soon went badly wrong, and the burned Irish investors are still grappling with the consequences years later

Ulster Bank provided 100% loans for Irish investors to buy pubs in England, but the deals were not what they seemed. Picture by Leon Farrell/Photocall Ireland

It was the height of the Celtic Tiger in Ireland, and a number of Irish investors were making their way to London for special auctions being run by Allsop, the property firm.

The main attraction on each occasion was the sale of a number of pubs located throughout England by London & Edinburgh Inns, a British company that operated a chain of almost 700 pubs and more than 150 hotels.

This was not the first ...