Manchester-based pub group Clover Taverns has entered administration.
The company has 10 pubs across the country, from Peterborough in Cambridgeshire, up to Preston in Lancashire. Clover Taverns claims to be the home of the "great British pub", although its food offer includes both US and South African cuisine.
Insolvency practitioner Duff & Phelps was appointed administrator to the company last week.
Duff and Phelps said it was reviewing the financial position of the company with a view to selling it as a going concern. It added it was working closely with Spirit Pub Company with a view to finding alternative tenants for the existing 10 licensed premises that are currently operated by the Company.
John Whitfield, Partner, Duff & Phelps said: “It has been well publicised in the press that consumers discretionary spending has reduced and inevitably, the leisure sector has seen the impact of this. Under the current economic climate, the downturn in trade has exacerbated cashflow demands. With the support of the Brewery, the ten public houses will continue to trade under the supervision of the Administrators. We are confident that there will be a significant amount of interest."
By Neil Gerrard
E-mail your comments to Neil Gerrard here.
Looking for a new job? Find your next job here with Catererandhotelkeeper.com jobs
Blogs on Catererandhotelkeeper.com
Catch up with more news and gossip on all Caterer's blogs
For the latest hospitality news, sign up for our E-newsletters
Featured video - for more, visit Caterer and Hotelkeeper’s YouTube channel >>