Two-thirds of the pubs owned by Devon-based Peninsula Inns, which collapsed into administration before Christmas, have been saved after they were picked up by newly-formed Enlighten Inns.
Peninsula Inns, which operated 18 pubs across the West Country, went into administration due to a combination of the credit crunch, the smoking ban and rising utility costs.
Enlighten Inns, which was founded by former Peninsula Inns finance director Stephen Guest, has picked up 12 of the pubs from administrator BDO Stoy Hayward in a deal handled by property agent Christie & Co.
Jon Clyne, agent in the Exeter office of Christie & Co, said: "We were appointed as advisers in the disposal of Peninsula Inns and had discussed the proposition with a number of interested parties.
"Enlighten Inns proposal has helped save many of the public houses and with Stephen's previous involvement at Peninsular Inns it is good to see that these pubs have been secured."
By Daniel Thomas
E-mail your comments to Daniel Thomas here.
Looking for a new job? Find your next pub job here with Caterersearch.com jobs