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
A leading engineering firm focusing on electric power steering solutions and bespoke wiring harnesses serving various industries. It operates as two entities both reputable for maintaining high standards and offering bespoke solutions for clients. In...
Market-leading fruit and vegetable supplier distributing fresh produce and complementary goods both wholesale and D2C. The companys uncompromising drive for customer satisfaction has built strong relationships with across an enviable client base incl...
Turnkey construction services provider completing a range of projects with expertise across maintenance general refurbishment new build and conservation including work on listed buildings. The company provides full-service construction works utilisin...
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.