Wed, 08 May 2013 | ADMINISTRATION
A chain of pubs, restaurants and hotels in Northern Ireland has been placed into administration, possibly affecting 600 jobs.
Botanic Inns, which runs 16 outlets across Northern Ireland, has been hit by the continued economic troubles, high rents that were set during better times before the recession and its company debts.
Administrators at KPMG have been brought in to manage the chain’s affairs, and to find a buyer for the whole business or its parts.
Botanic Inns has grown to become Northern Ireland’s biggest pub chain, from its original pub, the Botanic Inn, which started to trade in 1857. On its website the business states its plans to continue its growth to expand outside of Northern Ireland. It had first set about expanding in the early 1990s, and grew to seven properties at a time when no one else was investing in Belfast, it says.
Colin Neill, chief executive of Pubs Ulster, told the BBC: “Botanic Inns is an iconic brand for the city of Belfast and right across Northern Ireland.
“It is no secret that factors have accumulated over the past year which have made it a very tough trading environment right across the industry.
“The revenue reserves normally built up by publicans during the Christmas season have suffered in the current trading environment and the negative impact of the recent flag protests compounding the problems faced by the trade.”
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