Tue, 27 Jan 2015 | BUSINESS SALE
A historic Scottish pub chain has called in administrators to find a buyer for its 15 pubs.
Maclay Inns operates 15 pubs across Scotland, including the East Port Bar in Dunfermline, Braes in Dundee and The Rule in St Andrews. The firm has had to call in administrators EY after being hit with an unspecified charge.
Around 560 jobs are at risk while EY administrators Colin Dempster and Gavin Yuill look for a potential buyer.
The Alloa-based Maclay Group has been in business since 1830, and is one of Scotland’s longest-running brewer and pub chains. Its Thistle Brewery was established in 1870, and continued as the group’s headquarters right up until 2001 when they decided to focus on the pub portfolio.
A statement from the firm read: “In recent months the directors have been seeking a strategic solution to the financial pressures facing the business.
“In light of a solution not emerging in the time available, the directors took this decision in order to protect the employment of its 500 staff and the business which remains profitable.
The statement added that EY would now be in control of looking for a sale of the business.
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Hertfordshire based IFA with 75% of the business' assets with two major platforms, ensuring a smooth transition post-sale.
This firm has an average portfolio size per household above £0.5m, meaning you will be servicing high quality, profitable clients.
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