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Market awaits indebted Punch's strategic review

Punch Taverns' chief executive, Ian Dyson, unveils his long-awaited strategy review on Tuesday.

The group is saddled with more than £3bn debt, yet is worth less than £450m. Mr Dyson promised to carry out a thorough review when he took over in September and disgruntled bondholders will be watching to see if he decides to offload lossmaking parts of the estate. Retailers Next, B&Q-owner Kingfisher and Ted Baker report full-year results on Thursday.