Thu, 13 Feb 2014 | ADMINISTRATION
Administrators are about to put a 17th Century Devon public house on the market with a £325k+ price tag.
Ian Walker and Chris Norman of Begbies Traynor were brought in to the business after the Dartmoor Inn became insolvent on 20 January due to adverse trading conditions hitting rurally located pubs.
All 13 staff have since lost their jobs, though the pub is still being traded under a separate management company for the time being.
Mr Walker said: “The pub will continue to trade as normal during the administration period but will be put on the market as a going concern.
“We anticipate that it will continue to be an important feature of the local economy attracting tourists to the area, and we are working with current managers to ensure the business’s future viability.”
The Dartmoor Inn in Lydford, Devon, situated on the edge of the Dartmoor National Park, is frequented by locals and tourists alike. It operates a bar, restaurant and three letting bedrooms, featuring antique English and French furniture.
The situation represents the latest in a string of British pubs succumbing to insolvency. Approximately 20 sites are closing per week.
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