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.”
____________________________________________________________________________
Related articles:
Crewe Arms Hotel in a £1m sale
View the latest businesses in administration
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...
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.