Fri, 01 Nov 2013 | ADMINISTRATION
Zolfo Cooper has been appointed to Bramwell Pub Company, after the company's cash flow problems proved too great to overcome.
Peter Saville, Kevin Coatest and Anne O'Keefe were appointed yesterday (31 October) as joint administrators.
The managed pub operator was formerly known as Barracuda but underwent a restructure just over a year ago and appointed a new management team, led by Roger Moxham, the former Mitchells & Butlers executive.
The business believed at the time of the restructuring that it had created a “solid foundation” for growth and investment. But the firm's problems continued despite the restructuring process and the company didn't manage to cut its £160 million debt or offload lossmaking sites fast enough to avoid administration.
Zolfo Cooper are now handling Bramwell's affairs while they look to sell as many of the sites as possible. Twenty-five of the 185 pubs and bars that the firm operates across the country are due to be closed straight away and will be marketed for sale by Christie + Co. industry news source, The Publican's Morning Advertiser, reported.
Peter Saville, partner at the administrators, commented: “We will continue to trade the business while exploring all possible options for its future including a sale of the business and would like to thank the staff for their continued support and professionalism during this process.”
Contact the administrators here
____________________________________________________________________________
Related information:
How to turn around a struggling business
Recovery on the cards for pub sector
Pub sale scuppered by last minute decision
Colonsay pub for sale
Opportunity to acquire a group specialising in the manufacture and distribution of e-liquids with a strong foothold in this niche market and potential for further expansion through enhancing sales operations.
This is a unique opportunity to acquire a highly respected company, accredited by the RSPCA, with a strong network of loyal clients and expertise in animal health, offering the flexibility of a relocatable operation
LEASEHOLD
This Scotland-based consultancy agency specialises in affordable employee value proposition and employer brand communications, offering a unique opportunity to acquire a business with a strong reputation and an impressive client base across multiple...
22
|
Apr
|
UK administrations update: April 16 - 22 | ADMINISTRATION
Since our last update, the following businesses have been co...
22
|
Apr
|
MII selects employee ownership | BUSINESS SALE
Caerphilly engineering firm MII Engineering has transitioned...
21
|
Apr
|
Sybron undergoes management buyout | MBO/MBI
Sybron, a supplier of cleaning, hygiene and catering product...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.