Baker Tilly Restructuring and Recovery LLP has been appointed to the administration of a group of public houses across the East Midlands region.
HK Taverns, headquartered in Corby, Northamptonshire, managed and operated approximately 50 pubs, ranging from small community pubs to larger food-led operations.
Bushby, restructuring and recovery partner at Baker Tilly, said that sales were affected by the continued pressure on consumer income.
He explained: “In response to creditor pressure, the company management reached the inevitable conclusion that the only option was to appoint administrators.
“Since our appointment we have worked closely with the pub company landlords to facilitate an orderly handover of the leasehold portfolio, thereby in many cases saving jobs and preserving value for all parties.
“We anticipate continuing to trade at five sites, which will secure around 40 jobs, until a buyer for the individual pubs or the group can be found.”
The five sites that will continue to operate are The Admiral Hornblower (Oakham), Red Lion (Rothwell), Wishing Well Inn (Dyke), Beehive (Grantham) and Magnet Tavern (Boston).
Graham Bushby and Guy Mander have been appointed to the case.