Publicity shy Compasses boss Ken Tallow has described how he is 'sick inside' after deciding not to renew his lease with Punch Pubs and how he is happy to just carry on working on his boat somewhere on the peninsula.

The Holbrook pub will close on November 15, with manager Clare Ling losing her job and accommodation above the bar, but owners Punch Pubs Ltd have plans to put new people in as soon as possible.

Mr Tallow, aged 79, told Nub News why he has taken his decision to quit the pub after failing to agree new terms with Punch, following a loss of 70% of previous trade.

"I have been subsiding the Compasses for a few years now and recently I have been doubling that subsidy," said Mr Tallow. "The lease came up for renewal and I just said 'I have had enough' it is as simple as that.

"It's bloody awful and I'm sick inside."

Mr Tallow has a yacht, which he is still working on, and he prefers to spend his time, effort and money on that after becoming disillusioned with the business.

"I have work to do on my boat, I have had enough of the pub trade," Mr Tallow told Nub News.

"As you know, I spent months in the garden doing the electrics, getting everything nice and once again, but everything became negative again. We did not get the influx of people again.

"People chose to stay at home, and I understand that, but it is hard to make them change their ways.

"The price of beer keeps going up and we are tied a pub, so we were paying far more on a keg that I could get elsewhere."

The loss of customers and the failure by Punch Pubs to help out took its toll and Mr Tallow is concerned the cycle will just keep on repeating itself.

He said: "Everyone else seemed to get relief on their rent except from Punch. Their attitude seemed to be 'spend al your money and go, we will get someone in from elsewhere'.

"We have seen how someone comes in and replaces when someone else is going and hear reports of how well they are doing, the next thing you know they are gone after spending all their money.

"They are stuck in a poverty trap and can't get out working all ours and not making penny."

Punch's operations director Ed Passey, "We can confirm that the publicans at the Compasses have made the decision not renew their lease and to leave the pub.

"We wish them all the best in the future and we are pleased to have already recruited a new publican who will be taking on the Compasses in November.

"We look forward to welcoming them to the local community and sharing their exciting plans for the future".

Mr Tallow also had the Anchor at Dedham and that has also had problems and he added: "I spent 75k on doing the pub up and it has all gone.

"What shame, it is heartbreaking in many ways, but you have to move on."