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Wednesday, 29 September 2010

Pubfolio in administration

Pubfolio, the Trowbridge-headquartered pub operator, has gone into administration today. The administration is being handled by accountants PricewaterhouseCoopers, according to the Publican Magazine.

It has been a busy couple of days for insolvency practitioners as a number of companies have gone insolvent. It might have something to do with the rent quarter day being today!

It is believed that the smoking ban has also had a detrimental affect on the mainly community based pubs. In addition, the Anglo Irish Bank which has its own problems, is reluctant to put in more money.

It is not yet clear if some of the Pubfolio pubs will form part of a pre-pack administration.

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