Leonard Curtis Business Solutions Group has been appointed joint administrators to Butcher and Barrel Limited.
Neil Bennett and Michael Healy, directors at the recovery firm are continuing to trade three of the group’s leasehold pubs: the George Shillibeer in Islington; the Ravensbury Arms in Mitcham, Surrey; and the Kings Arms in Epsom, Surrey, whilst searching for potential buyers.
Butcher and Barrel previously operated seven gastropubs in and around the London area, offering customers locally-sourced food and drink in ‘comfortable and unique’ surroundings.
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, forcing the management to dispose of three pubs prior to the appointment of the administrators.
The George Shillibeer, the Ravensbury Arms and the Kings Arms 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.
Neil Bennett says: “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.”