“Sutherland Arms, Stoke on Trent. Major price reduction — more than 30 per cent off asking price. £215,000 to just £150,000 inclusive of fixtures and fittings.”

So reads an advertisement issued last week by Fleurets, the pubs estate agent. It is one of many reductions as more pubs around the country are put on the market.

Industry sources say that about four pubs are closing every day. It sounds bad, but it could easily get worse. According to Mark Brumby, at Blue Oar Securities: “There will be fewer pub sales in the run-up to Christmas and a large number in January. Prices look to be slipping fairly rapidly.”

Moreover, Mr Brumby said that there was a “two-tier” market, in which better-quality pubs were holding up well despite economic pressures, supported by a number of factors, not the least of which was location. The better the area, it appears, the more chance a pub has of avoiding the economic squeeze.

Food sales, so long thought of as a cure-all for pubs chasing trade, were not always making a huge difference. Research from Nielsen has found evidence of an emerging trend for people to eat and drink at home as figures showed that alcohol sales in Britain’s pubs and restaurants had fallen by 8 per cent in the year to August 9. Meanwhile, sales in off-licences and supermarkets had risen by 3 per cent, with many supermarkets selling alcohol as a loss leader.

Britain’s 30,000 or so pub landlords are under more pressure than ever before, as are the companies that own the assets they operate. More pub landlords are requiring financial assistance to persuade them not to hand back the keys. It is understood that Enterprise Inns will provide details this month on the financial assistance it has provided to its tenants.

Mr Brumby said: “In the case of Punch Taverns and Enterprise Inns, this cost could amount to perhaps £50 million to £60 million . . . Operators such as Marston’s and Greene King will face many of the same pressures.”

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