Former directors buy Cains brewery from administrators

22 September 2008 by
Former directors buy Cains brewery from administrators

Administrators for Cains Beer Company have sold the firm's brewery business and its leasehold interest in nine pubs to Sudarghara and Ajmail Dusanj, who used to run the brewer and pub operator.

The sale does not extend to the larger pub estate owned and managed by other group companies which the administrator, PricewaterhouseCoopers (PwC), hopes to sell over the coming months.

Craig Livesey, joint administrator and director at PwC, said: "After a difficult period of trading for the company in administration, we are pleased that a sale of the business as a going concern has been possible.

"We believe that this sale gives the best chance for continued employment for the majority of the company's staff and also gives suppliers and customers an opportunity of continued business with the brewery".

Liverpool based Cains appointed PwC as administrator in August after discussions with Bank of Scotland broke down.

Cains lost the support of its financial backers after it made a £4.5m loss in the first six months of the year and also owed outstanding duties to HM Revenue & Customs, facing a winding up order.

Administrators shut loss-making pubs at Cains >>

Pub group Cains call in the administrators >>

Cains looks for further funding to stave off collapse after £4.5m loss >>

Cains pub company confident despite losses >>

By Daniel Thomas

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