Massive Pub Company to be rescued in 'next couple of days'

Massive Pub Company, which entered administration on 28 January, could be bought in the “next couple of days” under an exclusivity agreement with the administrators.

The deal would include the 33 pubs and restaurants currently handled by administrators Grant Thornton, which are now organised into five main groups: the Tups, L'auberges, Thomas & Carter, Massive unbranded and Charbar.

David Thurgood of administrators Grant Thornton, said: “I have granted exclusivity to a party, which has been in place for two weeks. That has now been extended by another week. That is progressing well and we will be issuing a debt sale contract in the next couple of days.”

Speculation on a buyer has centred on Swallet Management Solutions, which run by Derek Parfitt who used to work at the Magic Pub Company.

According to the Guardian Parfitt has offered £9m for the group but the Mail on Sunday claimed that massive are in exclusive talks with Bar Room Bar.

Thurgood would not be drawn on the name of a buyer.

Other recent casualties in the pub and bar trade include Laurel Pub Company, Soho Clubs and Bars, Sports Café and CanDu.

Read the full article in the Guardian here >>

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By Christopher Walton

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