BusinessBusiness RecoveryPwC appointed Cains administrator

PwC appointed Cains administrator

Administrator brought in to salvage beer business as smoking reforms start pinching

PricewaterhouseCoopers has been appointed administrator of Cains, after the
beer company complained of cash flow difficulties resulting from the smoking
ban.

The administration will be jointly led by David Chubb, Ian Green and Craig
Livesey.

Cains Beer operates a chain of 100 pubs, including 26 freehold and 76
leasehold pubs, most of which are managed houses.

In addition to new smoking laws, a reduction in consumer expenditure in the
leisure sector is cited as the cause of unpaid debt to HM Revenue &
Customs.

According to Chubb, Cains Beer is a well-established business with a strong
brand, and he’s confident the continuation of trade is feasible over the coming
months.

‘We have already received some early indications of interest and we would
also invite any parties interested in acquiring either the brewery or pub chain
businesses to contact us as soon as possible,’ he said.

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

1w Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

1w Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

4w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor