A prominent pub chain has plunged into administration, putting up to 13 beloved watering holes at risk of closure.
Antic Hospitality Group, the esteemed proprietor of a collection of pubs, bars and restaurants across East and South London, has declared its downfall this week.
The alarm bells had already sounded when administrators were summoned on July 12 for four sites under the Antic Pub umbrella.
Steve Absolom and Will Wright from Interpath Advisory have taken the helm as joint administrators for Elflock Limited, Babel Silk Limited, Brocade Limited and De Gremio Limited, though the number of employees impacted remains uncertain.
Speaking to The Caterer, joint administrators Steve Absolom and Will Wright from Interpath Advisory remarked: “This is an eclectic collection of well-known and popular pubs and bars located in prime sites across south London.
“We intend to bring these units to market in due course, representing a fantastic opportunity for investors and trade purchasers alike.”
Patrons can breathe a sigh of relief as all affected establishments will keep their doors open while a new owner is sought.
Interpath has pointed out that these venues have been grappling with “legacy liabilities” stemming from the COVID-19 pandemic, reported the Mirror.
Yet, this isn’t Antic’s first brush with adversity. In 2013, a dozen pubs operated by its subsidiary, Antic Limited, were thrust into administration due to tax-related tribulations, but fortune favoured them as all were snapped up within a month.
Full list of pubs affected:
- Dogstar (Brixton)
- Gremio de Brixton (Brixton)
- Balham Bowls Club (Balham)
- East Dulwich Tavern (East Dulwich)
- Tooting Tram and Social (Tooting)
- The Sun (Camberwell)
- Antelope (Tooting)
- Clapton Hart (Clapton)
- The Elephant and Castle Pub (Elephant and Castle)
- Hagen & Hyde (Balham)
- Graveney & Meadow (Tooting)
- Red Lion (Leytonstone)
- Coopers (Crystal Palace)
Elsewhere, Wetherspoon has announced plans to close a number of its sites in England.
Tim Martin, the chairman of JD Wetherspoon, commented on the situation: “The gradual recovery in sales and profits, following the pandemic, has continued in the current financial year.”
He added: “Total sales are, again, at record levels, with fewer pubs. Sales per pub are approximately 21 percent higher than pre-pandemic levels, which has helped to compensate for the very substantial increase in costs.
