Boutique pub-with-rooms operator Merchant Inns has been placed into administration.
Six pubs belonging to the pub group, which owns seven units spread across the south of England and employs around 240 employees have been placed on the market after the company, which was owned by property magnate Sir John Ritblat, fell into administration.
The news comes a few months after Caterersearch revealed that the company’s chairman Robert Breare had been sacked following a shareholder’s meeting.
Appointed administrators Deloitte said that the move into administration came “following the discovery of a number of previously unknown financial liabilities in the business in recent weeks, which made it impossible to continue running the business at it stands.”
Neville Kahn, partner and joint administrator at Deloitte commented: “It is our intention to continue to trade the business, with a view to selling each of the pubs as a going concern – they are of extremely high quality, in first rate locations and we are confident of finding a buyer in the near term.”
The properties, which include the Talbot Inn at Ripley in Surrey have been placed on the market with Colliers Robert Barry.
Merchant Inns acquires seventh pub and reveals further expansion plans >>
Merchant Inn announces joint venture with property magnate >>
Merchant Inns in talks to secure £150m extra funding >>
By Rosie Birkett
E-mail your comments to Caterer News here.
If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.caterersearch.com/tabletalk
Caterersearch.com jobs
Looking for a new job? Find your next job here with Caterersearch.com jobs
| | Newsletters
For the latest hospitality news, sign up for our e-mail newsletters. | | |