Wed, 22 Jul 2015 | ADMINISTRATION
Administrators have successfully secured a sale and the ongoing business of two public houses known as The Atrium.
The Atrium in Grantham and its sister pub of the same name in Newark were owned by Fairway Investments PPC Ltd, which traded as Atrium Bars. Administrators from FRP Advisory were appointed to handle the administration of Fairway on 9 June after a downturn in trading resulted in “unsustainable pressure” on the business and the two pubs were unable to continue operations under their current financial structure.
Chris Stirland and Nathan Jones from FRP worked as joint administrators and secured a sale of the assets and business of The Atrium in Newark on 12 June. The leasehold pub is now operated by new tenants and trading is continuing.
The Atrium in Grantham is still for sale and at the moment is continuing to trade as normal.
Mr Jones commented: “We continue to market for sale the Atrium in Grantham which trades as normal under the experienced direction of an experienced hospitality management firm, installed since our appointment, to ensure that the customer remains at the heart of everything this fine freehold pub has to offer, from a good selection of ales and wine to the Sunday roasts or quiz nights that regularly draw in a full house across the generations both locally and further afield across Lincolnshire. We invite interested parties to make contact”
The administrators cited the smoking ban as having had a major impact on trade at the two bars, while Fairway's high levels of debt also held back the two pubs.
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