Butcher and Barrel pubs in administration

14 March 2013 by
Butcher and Barrel pubs in administration

Three pubs operated by the Butcher and Barrel are up for sale after the company went into administration.

Leonard Curtis Business Solutions Group was appointed as administrator of the firm at the end of February, and all three continue to trade.

The three leasehold sites are: the George Shillibeer in Islington; the Ravensbury Arms in Mitcham, Surrey; and the Kings Arms in Epsom, Surrey.

Butcher and Barrel previously operated seven gastropubs in and around the London area.

But in spite of targeting the eating-out market with extensive menus, the recession together with declining alcohol sales and stiff competition from the supermarkets took their toll on sales.

The company's management disposed of three pubs to try and shore up its position but could not avoid appointing administrators.

A fourth site was handed back to the landlord the day before the appointment of Leonard Curtis.

The three remaining pubs are currently trading profitably. No staff have been made redundant.

Commercial property sales and lettings specialists have been appointed by the administrators to assist with the sale of the three leasehold pubs, which employ some 40 staff, and it is anticipated that the sites will continue to trade until potential buyers are found.

Administrator Neil Bennett said: "The outlook for the sale of all three leasehold pubs through the administration process is extremely positive with several parties interested in acquiring the three leases, and we anticipate that premiums will be realised for the three leases, thereby increasing realisations for creditors."

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