HK Taverns, headquartered in Corby, Northamptonshire, manages and operates approximately 50 mainly leasehold pubs in the East Midlands, situated in market town locations close to good road links and tourist attractions, and ranging from small community pubs to large food- led operations.
Graham Bushby and Guy Mander of Baker Tilly Restructuring and Recovery LLP have been appointed Joint Administrators of HK Taverns Limited.
Graham Bushby, Restructuring and Recovery Partner at Baker Tilly said: ‘Sales at HK Taverns have been affected by the continued pressure on consumer income. In response to creditor pressure, the company management reached the inevitable conclusion that the only option was to appoint Administrators.
‘Since our appointment we have worked closely with the pub company landlords to facilitate an orderly handover of the leasehold portfolio, thereby in many cases saving jobs and preserving value for all parties.
‘We anticipate continuing to trade at five sites, which will secure around 40 jobs, until a buyer for the individual pubs or the Group can be found.’
The five sites are The Admiral Hornblower (Oakham), Red Lion (Rothwell), Wishing Well Inn (Dyke), Beehive (Grantham) and Magnet Tavern (Boston).
Contact: Damian Webb of Baker Tilly Restructuring and Recovery LLP on 0121 214 3100.