PwC takes orders at Brannigans
Big Four firm PricewaterhouseCoopers has been appointed as administrative receiver to Mustard Entertainment Restaurants Limited, which operates the pub and restaurant group trading as Brannigans.
Mike Jervis and Mike Gercke from PwC were appointed to run the business, which has 20 Brannigans outlets throughout the UK and employs over 700 people. The group’s annual turnover is around £34m.
They were called in as ‘recent trading has not been at a level sufficient to service the group’s debts and consequently pre-tax losses have been suffered’.
Mike Jervis said: ‘There remains considerable potential to further develop the successful Brannigans concept. The outlets are mainly in prime locations and they offer a unique prospect to acquire this successful brand with considerable development upside.’
‘With the Christmas party season nearly upon us, we are aiming to achieve a rapid sale of the business to enable a purchaser to benefit from this lucrative trading period.’