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Gastro-pubs rescued from administration 31 May 2013

Begbies Traynor has confirmed the sale of two gastro-pubs out of administration following its appointment to Powder Train LLP.

Powder Train LLP, a partnership which holds five freehold pubs across the south of England, was placed into administration in February 2013.

Julie Palmer, joint administrator and partner at Begbies Traynor, said: “These five pubs present an attractive offering to the market-place and are trading well despite the previous downturn in the sector. We have had strong expressions of interest from a variety of potential purchasers. We expect them to thrive under new ownership.”

The George Inn, a restaurant and inn in Longbridge Deverill, Wiltshire, has been acquired by Hampshire-based Upham Pub Company.

The Handsome Pig, located in Fenhurst, West Sussex, has been bought by existing pub and restaurant operator, John Portman.

The remaining three pubs for sale are the Anchor Hotel in Warminster, Wiltshire, the Chilli Pad (formerly the Jolly Miller) in North Warnborough, Hampshire, and the Chequers Inn in Maresfield, East Sussex.

A statement by Begbies Traynor said the administrators are “trading the business forward with a view to maximising value for creditors”, with further announcements on the remaining pubs “expected shortly.”

Simon Campbell and Gavin Savage of Begbies Traynor were also appointed as joint administrators.

 

 

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