Two more pub and bar operators face administration
Out of the Woods, which operates four pubs across the capital, has gone into administration with Chris Farrington and Simon Jagger of ReSolve Advisory installed as joint administrators of its four subsidiary companies – Woodys Inns, Hillmaster, Willow Inns (UK), and Forest Inns (UK).
All four of its sites remain closed.
What’s more APN Group – which operates Viaduct Showbar, Fibre and Mission in Leeds’ city centre – has also been placed into administration.
In a statement made at the end of July, a spokesperson for Mission said that the ongoing pandemic had forced businesses to make "sad decisions” and that it was “with a heavy heart and deep filled sadness that we have to close our business until further notice.”
APN has appointed Molly Monks and Darren Brookes of Milner Boardman & Partners as joint administrators after its three venues went into administration on 31 July.
However, according to The Business Desk, the Yorkshire businessman behind the Group, Terry George, recently set up 168 Briggate – the address for Fibre – suggesting that this vehicle may acquire at least that venue.
Sector insolvencies
News of APN Group and Out of the Woods’ administration comes after accountancy firm Price Bailey found that 326 hospitality and tourism businesses including hotels, restaurant and pubs, became insolvent between 1 April and 30 June 2020.
The firm’s findings revealed that sector insolvencies were down 49% on the first quarter of 2020 when 643 companies went into insolvency – the lowest level since the third quarter of 2010.
However, since the Government’s enforced closure of pubs, bars and restaurants on 20 March due to the Covid-19 outbreak, pool and snooker hall chain Rileys Sports Bars, Country Pub Group, Seafood Pub Company and 16 Hospitality have all slipped into administration.
As reported by The MA the family behind national shoe repair chain, Timpson, tied up a deal for 16 Hospitality in June for an undisclosed sum – saving close to 100 jobs in the process.
