Corby-based pub chain goes into administration

The Red Lion, Rothwell
The Red Lion, Rothwell

A Corby-based company which managed and operated around 50 pubs in the East Midlands has gone into administration.

Graham Bushby and Guy Mander of Baker Tilly Restructuring and Recovery have been appointed joint administrators of HK Taverns Limited, founded by the late Harry Kelly, who was well-known in Corby and died earlier in the year.

Mr Bushby 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 in Oakham, the Red Lion in Rothwell, the Wishing Well Inn, Dyke, the Beehive in Grantham and the Magnet Tavern in Boston.

Any interested parties are asked to contact Damian Webb of Baker Tilly Restructuring and Recovery on 0121 214 3100.