Staff at 12 North East pubs face uncertain future after owner enters administration
PUB staff face an uncertain future after the Bramwell Pub Company entered administration.
The firm, which owns 12 taverns in Northumberland, Tyneside, Sunderland and County Durham, has called in restructuring experts Zolfo Cooper after experiencing “cashflow problems”
Twenty five of its 185 pubs are to be sold through Christie and Co – with a further 80 believed to be potentially being bought by Yate’s, Scream, Slug and Lettuce, and The Living Room owner Stonegate – but so far no details have been released of which inns are effected.
In a statement the administrators said: “Peter Saville, Kevin Coates and Anne O’Keefe, Partners at Advisory and Restructuring specialists Zolfo Cooper, were appointed joint administrators over Bramwell Pubs and Bars Limited on 31 October 2013.
“The Group operates 185 pubs and bars across the UK and employs approximately 3,300 staff across all sites.
“The joint administrators were appointed as a result of the group experiencing cash flow problems arising from the current challenging economic environment.
“Following the appointment, the joint administrators will continue to trade the majority of the estate while exploring a range of options including the sale of parts of the business as a going concern.”
Bramwell owns Trillians Rock Bar on Newcastle’s Princess Square, the Bridle Path in Whickham, the Pow Burn in North Shields, the Blagdon Arms in Cramlington, the Grey Horse in East Boldon, Whitehills and the Red Lion in Chester-le-Street, Chesters, Chaplins, Varsity and the Blue Bell in Sunderland, and Varsity in Durham.
Peter Saville, a partner at Zolfo Cooper, thanked the pub firm’s staff for their “continued support and professionalism” at this time.
“We will continue to trade the business while exploring all possible options for its future including a sale of the business,” he said.
“And we would invite parties wishing to make an expression of interest in certain sites to contact Zolfo Cooper.”