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The Brits aren't going to the pubs:

Robert Munro buys his booze at London liquor stores these days. As his expenses rise and Britain teeters on the edge of recession, the house painter is cutting back on nights out and pouring drinks at home.

"It's gotten more and more expensive to just head down to the pub for a drink," said Munro, 55, who is self-employed. "You're paying silly prices for a pint -- you can drink at home for half the price."

Five British pubs are closing their doors every day, according to the British Beer & Pub Association, as pound- pinching drinkers embrace staying in as the new going out. That may hurt beer companies like Heineken NV and Carlsberg A/S more than distillers, such as Diageo Plc, because the brewers generate the majority of their U.K. sales at bars, where profitability can be double the level in retail outlets.

Posted by edelfenbein at November 14, 2008 10:52 AM