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.
Scenic 6,000 (+) yard golf course with practice facilities. Well presented clubhouse with function rooms and greenkeeping complex.
FREEHOLD
Central Village Setting. Space to Seat 85 Customers. Hotels Rooms. Separate Landlord Accommodation. An amazing opportunity to purchase the lease of this very busy pub with 4 hotel rooms and 3-bedroom landlord accommodation. Offers invited.
LEASEHOLD
Established hair and beauty salon in Altrincham. Main road trading location. Comprehensive website included/ Strong social media presence. Free parking to rear. Offers invited.
|
18
|
|
Sep
|
Crane hire business acquired in seven-figure deal | BUSINESS SALE
Liverpool-headquartered A Mini Crane Hire has been acquired ...
|
17
|
|
Sep
|
Scottish accountancy firm expands with two new acquisitions | BUSINESS SALE
Scottish accountancy firm Goldwells has expanded with the ac...
|
16
|
|
Sep
|
Plymouth window manufacturer rescued in buy-out | BUSINESS SALE
A Plymouth window manufacturing business that formed part of...
Sign up to receive our acquisition alert emails to get your FREE guide
|
22
|
|
Jul
|
Essex-based cruise line goes into administration | ADMINISTRATION
Cruise & Maritime Voyages (CMV) has gone into administration...
|
07
|
|
Jul
|
Construction contractor owed creditors £11m when it collapsed | BUSINESS NEWS
Lancashire-based contractor Construction Partnership UK owed...
|
19
|
|
Jun
|
Living Ventures places Blackhouse and Newgate into administration | ADMINISTRATION
Living Ventures has placed its Blackhouse and Newgate restau...
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