News Article Comments : Dusanj brothers buy back Cains

The Dusanj brothers have regained control of the Cains brewery and nine pubs from administrators.

Cains went in to administration on 7 August after the Bank of Scotland refused to extend its facilities after it announced losses of £4.5m for the six months to 28 April.

The trouble began after Cains undertook a £37m reverse takeover of Honeycombe Leisure in May 2007, which saw Cains acquire 92 pubs, and a listing on the Alternative Investment Market.

The Bank of Scotland provided £40m, of which £30m was a loan facility, £5m in working capital and £5m to fund refurbishment of the pubs.

Ajmail and Sudarghara Dusanj had been widely tipped to acquire the brewery after it was revealed that they still owned the freehold in a separate company along with around 10 freehold pubs. Cains had been paying rent of £500,000 a year on the brewery.

The amount paid has not been disclosed by administrators PricewaterhouseCoopers (PWC).

“After a difficult period of trading for the company in administ