The chef with no name 24 January 2020 How James Cochran lost the rights to his own name, and his triumphant comeback with Islington restaurant 12:51
In this week's issue... The chef with no name How James Cochran lost the rights to his own name, and his triumphant comeback with Islington restaurant 12:51
Read More
Search

Massive Pub Company to be rescued in ‘next couple of days'

15 April 2008 by
Massive Pub Company to be rescued in ‘next couple of days'

Massive Pub Company, which entered administration on 28 January, could be bought in the "next couple of days" under an exclusivity agreement with the administrators.

The deal would include the 33 pubs and restaurants currently handled by administrators Grant Thornton, which are now organised into five main groups: the Tups, L'auberges, Thomas & Carter, Massive unbranded and Charbar.

David Thurgood of administrators Grant Thornton, said: "I have granted exclusivity to a party, which has been in place for two weeks. That has now been extended by another week. That is progressing well and we will be issuing a debt sale contract in the next couple of days."

Speculation on a buyer has centred on Swallet Management Solutions, which run by Derek Parfitt who used to work at the Magic Pub Company.

According to the Guardian Parfitt has offered £9m for the group but the Mail on Sunday claimed that massive are in exclusive talks with Bar Room Bar.

Thurgood would not be drawn on the name of a buyer.

Other recent casualties in the pub and bar trade include Laurel Pub Company, Soho Clubs and Bars, Sports Café and CanDu.

Read the full article in the Guardian here >>

Administrators warn of further licensed trade failures >>

Laurel rescued from administration >>

Sports Café owner acquires late night bar firm >>

By Christopher Walton

E-mail your comments to Christopher Walton here.

The Caterer Blog Catch up with more news and gossip on the Caterer Blog here
Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!