Good offer'

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for seven Old Monk pubs Administrators for Old Monk Pub Company are "close" to a sale of seven of the remaining 25 outlets. "The buyer has asked for...

for seven Old Monk pubs Administrators for Old Monk Pub Company are "close" to a sale of seven of the remaining 25 outlets. "The buyer has asked for anonymity until the deal is completed," said Smith and Williamson's Anthony Spicer, who is dealing with the disposal of the pubco's assets. "But it's a good offer and we're very hopeful we shall soon be able to conclude the purchase satisfactorily." Spicer revealed there had been "a high level of interest" in the 15 pubs and 10 Springbok sports bars. "Obviously there are some people who think that, because a company goes into administration, they can pick up assets cheaply," he added. "But on the whole we have had high quality offers." Old Monk was placed into administration two weeks ago. Chief executive Gerry Martin, brother of Wetherspoon chairman Tim Martin, had been struggling for some months to save the company, and sold nine sites to west London-based Puzzle Pub Co before the administrators were appointed.

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