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Ex-Tchenguiz pubs in admin

02-Sep-2011

Tchenguiz: former pubs in administration

Tchenguiz: former pubs in administration

Administrators have been appointed to a further 37 pubs that were formerly part of Robert Tchenguiz’s pub property empire.

PriceWaterhouseCoopers (PwC) has been appointed the administrator of R&L Properties No.6, which owns 37 freehold and long leasehold sites that operate as tenanted pubs.

Licensed Solutions and LT Pub Management (LSLT) has replaced Scottish & Newcastle Pub Company as the managing agent, according to PwC.

David Hurst, joint administrator and director at PwC, said: “The company has suffered as a result of the ongoing economic challenges facing the pub sector. Having run out of alternative options, the company was placed into administration.

“Our immediate priority is to seek buyers for the remaining pubs in order to enable their long-term survival. While buyers are sought, we have engaged LSLT to ensure the tenants will be able to continue to run their businesses as usual.”

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