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.

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