Mon, 18 Mar 2019 | ADMINISTRATION
Administrators for pub group headquartered in Leeds are on the hunt for a buyer for parts, or all, of the company’s estate located in the North of England as a result of a series of failed interest payments.
Authentic Alehouses Limited and Authentic Alehouses Trading Limited have been forced to call in leading business advisory firm Quantuma to handle the administration process, with partners Simon Bonney and Michael Kiely appointed as joint administrators.
At the time of administration, on 6 March 2019, four out of seven of the group’s pubs continued to trade, and will continue its operations until a new owner is found.
The group owns pubs in Barnoldswick, Hull, Pontefract, Saltaire and Southport, with its head office in Leeds.
In a statement released by Quantuma, it was said: “Authentic Alehouses (AAL) owns the freeholds of seven public houses across Northern England. AAL borrowed funds to refurbish the seven public houses and security was granted in respect of the loans.
“In early March 2019, the company failed to make the full interest payments due to in respect of the loans which constituted an event of default and therefore the secured creditor appointed Simon Bonney and Michael Kiely of Quantuma LLP as joint administrators on 6 March 2019.
“At the date of our appointment three of the public houses were shut but four were trading. Following our appointment, these four continue to trade under licence. The administrators are actively seeking potential purchasers for some or all of the estate. The administrators will also be investigating the affairs of AAL.”
The administrators are inviting expressions of interest from potential buyers immediately.
Click here to view the Authentic Alehouses Limited listing, and here for the Authentic Alehouses Trading Limited listing for full details.
For more news stories about administrations click here. For all our administrations listings, click here.
Established in excess of 25 years ago this business specialises in the hiring of marquees for all occasions, offering a complete package which includes marquees with windows and doors, linings, flooring, tables, banquet chairs, lighting, heating, pod...
LEASEHOLD
Well-Established Travel Agency. Double fronted ground floor premises with quality floor, hanging lighting. 2 desks etc. Cloakroom with w.c. & wash hand basin. First floor large storage area. Good trading position, sought after Hampshire Market Town.
LEASEHOLD
This long-established retailer, distributor and brand owner of well-known and trademarked inflatable boats and RIBS, supplies a diverse range of craft into the UK and international pleasure boating, performance recreational and commercial marine mark...
LEASEHOLD
|
19
|
|
Oct
|
Cazoo acquires Vans365 at around 5x EBITDA | BUSINESS SALE
Car retailer Cazoo has announced the acquisition of online c...
|
19
|
|
Oct
|
EG Group’s £750m Asda forecourts acquisition collapses | BUSINESS NEWS
EG Group has announced that its planned £750 million a...
|
18
|
|
Oct
|
Cardiff office buildings marketed for sale at £5.2m | COMMERCIAL PROPERTY
Office building units located in the Cardiff Gate Business P...
Sign up to receive our acquisition alert emails to get your FREE guide
|
15
|
|
Jul
|
Specialist engineering firm forced to appoint administrators | ADMINISTRATION
Rail contracting company Aspin Group Limited has been forced...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources