Thu, 01 Jul 2021 | ADMINISTRATION
Pub and restaurant group Provincial Hotels & Inns, which owns a portfolio of pub and hotel sites across Lancashire, has confirmed that it has been forced to call in the administrators.
Incorporated in 2013, the group revealed that it has appointed Patrick Lannagan and Julien Irving of Mazars LLP to manage its administration as of 21 June.
In total, the group owns a total of five sites, including Yorkshire Taps in Lancaster, The County Lodge & Brasserie in Carnforth, The Blue Anchor in Bolton-le-Sands, The Manor Inn in Lancaster, and The Windmill Tavern in Preston.
Commenting on the announcement, joint administrator Patrick Lannagan stated that each of the five sites would continue trading while the administrators conduct an assessment of the group's financial situation and started to put plans in place for its future.
"Given the popularity of the pubs and hotel, the Joint Administrators are confident of achieving a positive outcome for the sites," Mr Lannagan said. "We will be writing to all creditors over the next few days but would encourage anyone with an interest in taking over the public houses and hotel/brasserie to make contact with Avison Young."
Lannagan added that he hoped the appeal of each of the sites to potential buyers would prevent too much disruption for those who currently work at or plan to visit the five businesses.
"The teams at each of the pubs and the hotel are very appreciative of the support of our customers at this difficult time," he added. "That continued support will give us the best chance of securing a successful outcome and preserving jobs."
The well established business opportunity originally opened its door over 25 years ago, and has been under the current ownership. During that time, they built up an excellent reputation and loyal customer base within the local area.
LEASEHOLD
An opportunity has arisen to acquire a reputable and successful business operating at the forefront of the leisure market. Supplies an extensive range of products for trade and DIY vehicle conversions, including roofs, fittings, wood, and complementa...
LEASEHOLD
Due to the affluent location, an excellent local reputation and diverse treatment offering, the company has shown resilience to wider economic troubles and has increased turnover consistently – showing highly profitable and optimistic opportunities f...
LEASEHOLD