Failed pubco Barracuda owed £253,256

30-Nov-2012

Related topics: Company & City News

Barracuda, the pub company that restructured as Bramwell, was placed into administration owing creditors a net amount of £253,256.

The c.200-strong firm owed a net sum of £157,841 in rental obligations and had a net utilities bill of £17,864, a report into subsidiary Barracuda Pub Company from its administrator PricewaterhouseCoopers has revealed.

The largest single creditor, the brewer Scottish & Newcastle UK, was owed £9,761, while its rival AB InBev was owed £2,207.

Ironically, drinks wholesaler WaverleyTBS, which itself collapsed last month owing unsecured creditors £64.5m, was owed £5,826 by Barracuda. Just £54,727 is expected to be available to unsecured creditors.

The report also puts the value of Barracuda’s assets that it expects to realise at just £258,635. This includes £187,815 from a book value of £5.1m for fixtures and fittings. A group loan of £16.3m is expected to realise nothing.

Find us on Facebook

Spotlight

National Minimum Wage - what you need to know

National Minimum Wage - what you need to know

HMRC is naming and shaming pubs, hotels and restaurants that pay below the national minimum wage. The...

Craft Cider Trends

Craft Cider Trends

As the craft-cider movement follows the craft-beer movement, we begin to see parallels in its development. Here,...

The Big Interview: Mike Benner, SIBA

The Big Interview: Mike Benner, SIBA

In June Mike Benner left the Campaign for Real Ale (CAMRA) after 20 years of campaigning, to...

PMA's Most Mentioned 2014

PMA's Most Mentioned 2014

The Publican's Morning Advertiser has carried out its own research to uncover the 20 pubcos that have...

Follow us on