KPMG on the look-out for pub-chain buyer
After being appointed as administrative receivers of Valleyhill, the pub and bar chain, KPMG are looking for a buyer to take on the business.
Jane Moriarty and Blair Nimmo of KPMG Corporate Recovery were appointed administrators on Friday of Valleyhill Ltd, Valleyhill Bars and Valleyhill Pubs, which run 49 pubs in England and Scotland.
Five hundred people are employed by the three businesses, which have their headquarters in London.
Moriarty said the collapse of the businesses were as a result of the slowdown in the leisure industry.
‘We are trading these businesses as a going concern and are hopeful of a bring about a sale of individual or groups of pubs,’ she added.