Two gastro-pubs sold out of administration
Powder Train LLP, a partnership which holds five freehold pubs across the south of England, was placed into administration in February 2013.
Administrators Julie Palmer, Simon Campbell and Gavin Savage from Begbies Traynor are trading the business forward with a view to maximising value for creditors.
Two of the pubs have already found new owners.
The George Inn, the 17th century bar, restaurant and inn in Longbridge Deverill, near Warminster, Wiltshire, has been acquired by the Hampshire-based Upham Pub Company.
The Handsome Pig, another 17th century Grade II Listed country inn, situated in Fernhurst, West Sussex, has been bought by John Portman, an existing pub and restaurant operator.
The remaining pubs, the Anchor Hotel in Warminster, Wiltshire, the Chilli Pad (formerly the Jolly Miller) in North Warnborough, Hampshire and the Chequers Inn in Maresfield, East Sussex are on the market with further announcements expected shortly.
Administrator, Julie Palmer, said: “These five pubs present an attractive offering to the market-place and are trading well despite the previous downturn in the sector, and we have had strong expressions of interest from a variety of potential purchasers. We expect them to thrive under new ownership.”
All enquiries should be made to Julie Palmer or Simon Campbell at Begbies Traynor on 01722 435190 or to Ed Bellfield of Christie & Co on 01962 844455.
Julie is a law graduate who qualified with Price Waterhouse in 1994. Julie joined Smith & Williamson in 1997 and became a partner in 2001. With Mike Stevenson, Julie set up Middleton Partners offices in Salisbury and Southampton, both of which are now part of Begbies Traynor.
Julie is a member of the Insolvency Practitioners Association and the None Administrative Receivers Association and is a Fellow of The Association of Business Recovery Professionals. Julie deals with all aspects of Corporate Recovery and turnaround work and takes all form of personal insolvency appointments.