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.
Indoor children's soft play centre, laser tag arena, cafe, restaurant and home food delivery service. This life style opportunity has arisen to buy a Children's Indoor Soft Play Centre business in Cornwall with a consistent £470k to £490k turnover th...
FREEHOLD
Well-established company operating for over 14 years. Offers weekend breaks, five-day breaks and summer holidays to the UK and Europe. Provides a door-to-door pick-up service. Prints a range of holiday and excursion brochures.
FREEHOLD
This is a fantastic opportunity to acquire an elegant Hair Salon in one of the most fashionable areas of London's West End. This business is well established, with a strong turnover and an experienced team of stylists. It utilises the Shortcuts softw...
LEASEHOLD
|
27
|
|
Nov
|
AIT Worldwide Logistics acquires UK home delivery specialist | BUSINESS SALE
AIT Worldwide Logistics has acquired home delivery company P...
|
26
|
|
Nov
|
Magazine publisher Future agrees £594m GoCompare deal | BUSINESS SALE
Magazine publisher Future has agreed a £594 million ca...
|
26
|
|
Nov
|
BSR launches the UK Company Lens | BUSINESS NEWS
For the past four months, the team here at Business Sale Rep...
Sign up to receive our acquisition alert emails to get your FREE guide
|
28
|
|
Oct
|
Arlington Automotive acquired out of administration by Ricor Global | BUSINESS SALE
Arlington Automotive North East has been acquired out of adm...
|
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...
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