Kennedy running InnDeeD Group

The Morning Advertiser​ has learnt that industry veteran Ted Kennedy is running the 28 tenanted pubs formerly owned by InnDeeD Group, which was originally backed by Dawney Day Principal Investments.

Kennedy, who owns Pebble Hotels, is also operating 225-strong GRS Inns, part of London Town, which went into administration at the start of the year, and the 253 Pubfolio and Goldtry freehold tenanted pubs that went into administration earlier this week.

InnDeeD Group was set up in October 2006 and was originally headed by InnSpired boss Pete Brook, who now runs the turnaround division at Admiral Tavens.

The link between all four companies is bank Anglo Irish, which has had a strong relationship wih Kennedy since his days running Mill House Pub Company, which was acquired by Punch Taverns in 2007.

It is understood that Kennedy has been running the InDeeD estate since May.

Industry sources report that both InnDeeD and GRS Inns have stable performances at the moment.

Pubfolio, which is 70% free-of-tie, and was previously run by County Estate Management, is understood to have only a dozen or so closed pubs out of an estate of 253 pubs.

A source said: "It was over-leveraged and simply unable to meet its debt obligations."

It is thought that Kennedy will be running the Pubfolio estate through the GRS Inns operations team.

LT Pub Management, headed by former London Town chief executive Billy Buchanan, is running back office services.