Administrators from PwC have been called in to property freeholder Farlane
David Chubb, Mike Jervis and Rob Lewis from PwC have been appointed jointed
Farlane own the freehold interests of various properties including
Windwhistle Golf Club, 43 pubs around the UK, two residential properties in
London and two plots of development land in Camberley and Northants.
Jervis, business recovery services partner, said: “Farlane Property Group has
suffered as a result of the current economic challenges facing the hospitality
and leisure industry which resulted in ongoing losses in the golf business and a
deterioration in trading in the pub portfolio.
“Our immediate priority is to seek a buyer for the golf club as a going
concern in order to enable its long term survival and preserve the jobs of the
employees. While a buyer for the business is sought, we expect to continue
trading and we will work with the existing management team, suppliers, employees
and customers to try and ensure that we achieve a positive solution”.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies