Food and Drink Group to call in the administrators

Food and Drink Group (FDG), the embattled owner of Jamies wine bars and Henry J Beans, is reportedly set to call in the administrators after losing its battle for survival.

The company will be sold via a so-called pre-packaged administration in the “next few days”, a move that will render the group's shares worthless, according to online news service M&C Report.

FDG and its advisers are thought to be in discussions with several possible buyers, with accountancy firm BDO Stoy Hayward standing by to handle the administration part of the sale.

One party is believed to be interested in acquiring all of the group's sites while several others are interested in taking most, but not all of FDG's 30 bars.

Last month, the company asked for its shares to be suspended while it continued talks with its banks and explored sale options.

Struggling Food and Drink Group suspends shares >> 

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By Daniel Thomas

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