Long-serving employee buys into Cooper Inn
IT is almost a case of third time lucky for Michel Rosso, the new proprietor of the Copper Inn at Pangbourne, Berkshire.
Mr Rosso first worked at the 22-bedroom property - then owned by Fine Inns - between 1974 and 1980 as head waiter and restaurant manager, rejoining in 1982 as general manager. After the sale of Fine Inns to Resort Hotels in 1988, he was transferred to Ye Olde Bell at Hurley, Berkshire.
In the wake of Resort's collapse last year, the receivers handed management of the Copper Inn to the operational division of property agent Robert Barry, pending disposal.
Mr Rosso, in partnership with ex-Fine Inns directors Tony Hampton and Roy Tudor Hughes, has now bought the property and plans to spend £200,000 on a refurbishment programme.
He declined to disclose the sale price, though Robert Barry was expecting offers of about £100,000 for the leasehold, which has only three years to run but is renewable until the year 2009.
"The chance to buy my own business fulfills a lifelong ambition," said Mr Rosso, who holds a 49% stake. "The fact that it is a Copper Inn that I knew so well is a bonus."
