Tue, 09 Jun 2015 | BUSINESS SALE
Maclay Inns has been bought out of administration by Stonegate, the business behind the Slug and Lettuce and Yates's brands.
Maclay has a portfolio of 15 pubs and inns across Scotland, but in January it was forced to appoint administrators from EY due to an “unexpected funding requirement”.
Stonegate is a larger operation with some 600 outlets across the UK and sought to purchase Maclay to strengthen its quality portfolio and presence north of the border.
Simon Longbottom, Stonegate's chief executive, commented: “The prudent reviewing and planning of our estate has enabled Stonegate to invest in a high quality, predominantly freehold business that further strengthens our portfolio within Scotland.
“We look forward to welcoming the teams in situ into the Stonegate family.”
The price on the sale has not been disclosed but the parties involved are said to be happy with the outcome and, given the strong interest from potential buyers during the three months for which EY operated the distressed Maclay, Stonegate are thought to have brought a competitive offer to the table.
During the distressed period of trading EY were able to keep the majority of the 500 strong workforce in their jobs.
View more businesses in administration and keep an eye out for new opportunities.
The company provides a diverse range of solutions to clients across the healthcare sector, including temporary staffing, supported living, and complex care. To complement its core services, the business has developed its own app, enabling healthcare...
The company offers the hire of a wide range of high-quality, modern plant, access, and tools regionally. Priding itself on its outstanding customer service and large, loyal client base, the company also provides training for IPAF courses through an e...
The company is a reputable provider of signage and labels for use across various industries, including education, construction, healthcare, and commercial sectors. To ensure that its clients receive an efficient and high-quality service, the business...
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.