Portfolio of ten pubs for sale

Tue, 15 Sep 2009

RSM Bentley Jennison has placed Moorgate Taverns, a division of Pubs 'n' Bars, into administration.

The business consists of ten freehold pubs located in Oxfordshire, Hertfordshire and on the South coast, which are to continue to trade while the administrators assess Moorgate's options.

It is thought RSM may decide to sell the pubs either now or when the property market improves.

Moorgate's move into administration was to protect the parent firm. RSM had been advising Moorgate's bank, Clydesdale, for some time.

Moorgate had been operating at a loss and had breached some of its borrowing covenants with Clydesdale.

Pubs 'n' Bars bought Moorgate Taverns in 2007 for £9.27m, and took on £7.08m of debt as part of the deal. It was expected that Moorgate Taverns would bring an additional £670,000 of revenue to the company. The purchase brought Pubs 'n' Bars' total number of pubs to 106 - 54 freeholds and 52 leaseholds.

At December 31, 2008, the book value of the pubs was £8.03m, and its debt stood at £7.08m.


Subscribe today to read and search all our news, premium articles, business sale listings and buy/sell resources.


Latest Businesses for Sale


Printers/ Stationers - Andover, Hants

Asking Price: 
Turnover:  £640,000
Location: 

Digital printing specialists, commercial and retail stationers, lithographic printing and various ancilliary services. Freehold retail shop and long leased factory unit. Sale price includes all equipment and properties. NP £80k...


Hotel Accommodation - Folkestone

Asking Price: 
Turnover:  £500,000
Location: South East

Three Victorian houses joined together to form a luxury 8,500 sq. ft. facility. Includes reception, two lounges, four dining rooms, 16 en-suite bedrooms, music room, two kitchens, conservatory, bar, sauna, hot tub and more...


Suppliers of Souvenirs - Derbyshire

Asking Price: 
Turnover:  £1,200,000
Location: East Midlands

With over £60k worth of trading, the company has a very reputable name within the tourist and leisure market. Excellent potential...


View More Businesses for Sale >>