Seafood Pub Company goes into administration
The Lancashire-based company operated 10 gastropubs across the north west including the Assheton Arms in Downham, Clitheroe; the Fleece in Addingham; and the Oyster & Otter in Blackburn.
According to the Lancashire Telegraph, in a press statement, the company's managing director Joycelyn Neve said: “The past few months has been unprecedented for the hospitality industry.
“Unable to access Government support or other funding, and with no income since the forced closure, there is no choice other than for the business to go into administration."
Truly heartbroken
Neve added: “It goes without saying I am truly heartbroken, to have lost my business, but even more so for my team and Seafood family.
“We fought as hard as possible, every step of the way and I am just so sorry to all the team that we weren’t able to save the business.
“I can’t thank the team, guests, suppliers, neighbours and everyone who has been part of Seafood Pub Company enough, for your hard work, support and friendship over the past nine years and especially for your kindness and well wishes in this incredibly difficult time.”
News of administration follows the business reporting a group loss after tax of £2.73m for the full-year to 31 December 2018 in reports filed at Companies House in October 2019.
Business history
This compares to a loss of £1.15m the previous year (2017) after higher administrative expenses and cost of sales impacted profits.
At the time, Neve said one-off expenses for the year - including the disposal of one non-core site, Roaming Roasters, as well as system improvements - were restrictive, though these costs were not expected to repeat in future years.
Neve founded the business in 2010 and it has won various awards including Best Food Offer at the Publican Awards.
The company’s Assheton Arms in Downham has also featured on the Estrella Damm Top 50 Gastropubs list.
The Morning Advertiser has attempted to contact Neve but had not received a response at time of publication.
