Pub group Cains call in the administrators

07 August 2008 by
Pub group Cains call in the administrators

Liverpool-based brewer and pub operator Cains has gone into administration, the second licensed operator to do so in the past day.

The company said this afternoon that it had formally appointed administrators, PriceWaterhouse Coopers after discussions with Bank of Scotland broke down.

Its financial backers refused to support the company 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.

Administrator Craig Livesey told the Liverpool Daily Post that it was looking to achieve a sale as a going concern and had already received some early indications of interest.

Cains has approximately 100 pubs employing 900 people.

Food & Drink Group, owner of Henry J Beans, was placed into administration yesterday and has subsequently disposed of half its bar estate.

Read the Liverpool Daily Post article in full here

Cains Beer Company's bankers withdraw support >>

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

By Christopher Walton

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