Sat, 15 Dec 2018 | ADMINISTRATION
Mitchell’s of Lancaster (Brewers) Limited and York Brewery Co. Limited entered administration on December 12, 2018 and have put up their pubs for sale in the process.
Business advisers Duff & Phelps have been called in to handle the administration process, with partners Steven Muncaster and Sarah Bell appointed as joint administrators.
The partners cited a loss in interest in pub visits, paired with increasing business and employment costs, as the reason for the downfall of the companies.
Muncaster, the managing director of Duff & Phelps Manchester, commented on the administration, saying: “The UK pub sector has suffered sustained adversity over the last decade, with the latest ONS statistics showing that nearly a quarter of pubs have closed since 2008, with the majority of these closures being small pubs.
“This troubled landscape, coupled with rising business rates, increased minimum wage and the continued uncertainty surrounding Brexit, has created difficult conditions for pubs across the UK. As such, the owners were left with no alternative but to put the company into administration.”
The administrators are actively looking for buyers but have ensured that the companies’ venues will continue to trade in the meantime.
In December 2008, Mitchell’s of Lancaster acquired York Brewery in a bid to expand its operations, and continued to operate the company as a separate entity.
Operating across Lancashire, Mitchell’s of Lancaster runs 10 pubs including The Black Horse Inn which was founded in 1871 and The Station Hotel.
Similarly, York Brewery runs four public houses including Mr Foley’s Tap House and The Three Legged Mare. Muncaster, however, commented that: “While York Brewery is a popular destination for both locals and tourists, the company has unfortunately continued to face cashflow pressures as a result of difficult conditions which are affecting the leisure industry and pubs across the country.”
He encouraged interested parties to come forth for the purchase of both companies.
For more news stories about administrations click here. For all our administrations listings, click here.
Situated in the heart of Ilkley town centre just off the busy Brook Street. The yard is a stylish bar offering a wide range of drinks, good, quality food, music with varied DJ’s and live artists all encompassed in an interesting layout. Offers invite...
FREEHOLD
This is the finest business operating within the beauty industry. A truly exceptional and unique opportunity to acquire a highly successful aesthetics and beauty clinic, occupying an affluent market town trading position. Offers invited.
LEASEHOLD
An opportunity to acquire this lucrative spacious children’s play centre situated in the heart of a busy West Yorkshire town and with easy parking. The business is worked in easy hours over seven days. Offers invited.
LEASEHOLD
|
26
|
|
Mar
|
Craft beer company goes under | ADMINISTRATION
With stores in London, Canterbury and Margate, craft beer me...
|
25
|
|
Mar
|
West Midlands transport company enters administration | ADMINISTRATION
The company behind the Ring and Ride services throughout the...
|
22
|
|
Mar
|
Scunthorpe nightclub up for sale | BUSINESS SALE
A former nightclub based in Scunthorpe has been put up for s...
Sign up to receive our acquisition alert emails to get your FREE guide
|
02
|
|
Feb
|
High street wine retailer Oddbins enters administration | ADMINISTRATION
Off-licence chain Oddbins has gone into administration. Its ...
|
22
|
|
Jan
|
Jewellery retailer enters administration | ADMINISTRATION
A Nottingham-based jewellery and watches company has fallen ...
|
29
|
|
Aug
|
Printing providers on the market for sale | BUSINESS SALE
An advertisement for London-based digital and litho printing...
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