Historic Devon pub placed into administration
A historic 17th century Devon pub, which is popular with locals and holidaymakers alike, has been placed into company administration.
The Dartmoor Inn at Lydford, near Tavistock, entered administration on 20 January 2014 due to the difficult trading conditions affecting rural pubs.
Begbies Traynor partner Ian Walker and director Chris Norman, who are business recovery and insolvency specialists based in the firm’s Exeter office, have been appointed joint administrators.
Mr Walker said: “The pub will continue to trade as normal during the administration period but will be put on the market as a going concern. We anticipate that it will continue to be an important feature of the local economy attracting tourists to the area, and we are working with current managers to ensure the business’s future viability.”
The pub, which is expected to fetch in excess of £325,000, is renowned for its high quality meals and offers a limited amount of accommodation.
All of The Dartmoor Inn’s 13 staff were made redundant on appointment, however the pub continues to trade under a separate management company.
Interested parties are invited to contact Mr Peter Luff of property agents Edward Symmons on 01392 880180.
Ian joined Begbies in 2000 from Pannell Kerr Forster after practicing insolvency for the previous 20 years with Big Four firms. A member of R3 and a Fellow of the Institute of Chartered Accountants in England & Wales (from which he also takes his Insolvency Licence, he is currently a member of the ICAEW Investigation Committee. Over the years, Ian has dealt with all types of insolvency and at least three recessions. Currently, his practice based in Exeter and Plymouth covers the whole of Devon & Cornwall (including the Scilly Isles), together with as much of Somerset and Dorset as he can get away with! He deals with all types of personal and corporate insolvency and also concentrates on pre- and post-lending review work for all the major lending institutions.