Latest news with #PeterBorgNeal
Daily Mail
19 hours ago
- Business
- Daily Mail
Posh commuter belt pub chain falls into administration and shuts six sites
Pub and hotel chain Oakman Inns has fallen into administration and six sites have been closed. The Berkhamsted, Hertfordshire–based chain, which largely operates in Hertfordshire, Buckinghamshire and the Midlands, struggled to recover from enforced closures and restricted trading during the Covid pandemic. The firm's closure has also been put down to rising energy and food costs, as well as a reduction in customer spending. The upmarket Oakman Inns chain was founded by Peter Borg–Neal in 2007. The chain's development arm, Oakman Dev has also entered administration. As a result of the insolvency, six sites have been closed permanently, with 159 staff losing their jobs in the process. However, 13 of the chain's leasehold locations and one freehold property were sold to Uphams Inns, with 531 jobs set to be transferred along with the sites to the new owner. Kevin Todd, executive chairman of Upham Inns, said: 'We have been long term admirers of the Oakman Inns pub estate and the quality of their team and their offer… 'We look forward to welcoming the new team into our family and working together to create an exciting premium pub group, now with 30 fabulous locations.' PwC, appointed as its administrators, said no acceptable offers were received for the sale of the whole business, despite 'an open and comprehensive marketing process,' and it was deemed that a part sale was the best way to maximise returns for creditors. In May, Wagamama owner The Restaurant Group, was in talks to buy a chunk of the Oakman Inns' portfolio of some 30 sites. Ross Connock, joint administrator at PwC, said: 'It's regrettable that six trading sites were not included in the sale, resulting in 159 redundancies. Our team of employee specialists are providing support to those affected during this challenging time. 'The hospitality sector continues to face significant and persistent challenges, including a reduction in customer numbers, which has been driven by changing consumer habits and broader economic pressures.' 'In addition, operators are contending with rising operating costs, such as increased energy prices, higher food and beverage costs, and wage inflation.' Brewdog announced earlier this week that it would close 10 locations, including its flagship bar in Aberdeen, putting around 100 jobs at risk. The bars will close on 26 July. The six Oakman sites that have closed are: • Grand Junction Arms, Tring, Hertfordshire • Beech House, Watford, Hertfordshire • Journeyman, Gerrards Cross, Buckinghamshire • King's Head, Chipping Ongar, Essex • Navigation Inn, Lapworth, Warwickshire • The George Inn, Ludlow, Shropshire Meanwhile, Upham Inns will take over these 14 locations: • The Penny Farthing, Berkhamsted, Hertfordshire • The Beech House, St Albans, Hertfordshire • The Betsey Wynne, Swanbourne, Buckinghamshire • The Three Locks, Stoke Hammond, Buckinghamshire • The Red Lion, Water End, Hertfordshire • The Beech House, Solihull, West Midlands • The Beech House, Beaconsfield, Buckinghamshire • The Beech House, Amersham, Buckinghamshire • The Lost Boy, Farnham, Hampshire • The Kings Arms, Berkhamsted, Hertfordshire • The Woburn, Woburn, Bedfordshire • The Old Post Office, Wallingford, Oxfordshire • The Four Alls, Welford on Avon, Warwickshire • The Navigation Inn, Cosgrove, Northamptonshire
The Sun
2 days ago
- Business
- The Sun
Pub chain collapses into administration as SIX sites shut their doors for good and 159 job losses
A PUB chain has collapsed into administration with six sites shutting their doors for good. Oakman Inns & Restaurants was first founded in 2007 by entrepreneur Peter Borg-Neal. 1 It mainly operated across Bedfordshire, Buckinghamshire, Oxfordshire and the Midlands. Up to six sites have closed, while a further 13 are transferring ownership to Upham Inns, the operator of a small collection of premium pubs with rooms. According to the BBC, the following sites have ceased trading: Beech House, Watford, Hertfordshire Grand Junction Arms, Tring, Hertfordshire King's Head, Chipping Ongar, Essex Navigation Inn, Lapworth, Warwickshire Journeyman, Gerrards Cross, Buckinghamshire The George Inn, Ludlow, Shropshire Meanwhile the following sites have been taken over: The Three Locks, Stoke Hammond, Buckinghamshire The Beech House, Amersham, Buckinghamshire The Beech House, Beaconsfield, Buckinghamshire The Beech House, Solihull, West Midlands The Beech House, St Albans, Hertfordshire The Betsey Wynne, Swanbourne, Buckinghamshire The Four Alls, Welford on Avon, Warwickshire The Kings Arms, Berkhamsted, Hertfordshire The Lost Boy, Farnham, Hampshire The Navigation Inn, Cosgrove, Northamptonshire The Old Post Office, Wallingford, Oxfordshire The Penny Farthing, Berkhamsted, Hertfordshire The Red Lion, Water End, Hertfordshire Ross Connock, joint administrator at PwC, blamed "significant" challenges in the UK hospitality sector for the chains troubles. He said: "The hospitality sector continues to face significant and persistent challenges, including a reduction in customer numbers, which has been driven by changing consumer habits and broader economic pressures. "In addition, operators are contending with rising operating costs, such as increased energy prices, higher food and beverage costs, and wage inflation.'
BBC News
3 days ago
- Business
- BBC News
Oakman Inns goes bust with the loss of six sites and 159 jobs
A hotel and pub chain that has operated since 2007 has gone into administration following a fall in customer numbers and rising costs. Oakman Inns based in Berkhamsted, Hertfordshire, was founded by entrepreneur Peter Borg-Neal, and operated across Bedfordshire, Buckinghamshire, Oxfordshire and the Midlands. PwC, its administrators, confirmed "six operational sites" had closed with the loss of 159 jobs. The firm added it had sold one "freehold property and 13 leasehold sites to Upham Group Limited", which had secured 531 jobs. PwC said Oakman Inns was an "operator of a high-quality portfolio of pubs and restaurants, across southern and central England". It added challenging conditions, such as the Covid pandemic which led to closures and "restricted trading", meant the company had to take out "additional borrowings to stabilise the business and preserve its operational footprint". Ross Connock, the joint administrator at PwC, said: "It's regrettable that six trading sites were not included in the sale, resulting in 159 redundancies. "Our team of employee specialists are providing support to those affected during this challenging time."The hospitality sector continues to face significant and persistent challenges, including a reduction in customer numbers, which has been driven by changing consumer habits and broader economic pressures. "In addition, operators are contending with rising operating costs, such as increased energy prices, higher food and beverage costs and wage inflation." The Grand Junction Arms, Tring, announced on its Facebook page that it has closed. The businesses that have been taken over by Upham Group are: The Three Locks, Stoke Hammond, BuckinghamshireThe Beech House, Amersham, Buckinghamshire The Beech House, Beaconsfield, BuckinghamshireThe Beech House, Solihull, West MidlandsThe Beech House, St Albans, Hertfordshire The Betsey Wynne, Swanbourne, BuckinghamshireThe Four Alls, Welford on Avon, WarwickshireThe Kings Arms, Berkhamsted, HertfordshireThe Lost Boy, Farnham, HampshireThe Navigation Inn, Cosgrove, NorthamptonshireThe Old Post Office, Wallingford, Oxfordshire The Penny Farthing, Berkhamsted, HertfordshireThe Red Lion, Water End, Hertfordshire The Woburn, Woburn, Bedfordshire Kevin Todd, the executive chairman of Upham Inns, said: "We have been long-term admirers of the Oakman Inns pub estate and the quality of their team and their offer. "We look forward to welcoming the new team into our family and working together to create an exciting premium pub group, now with 30 fabulous locations." Follow Beds, Herts and Bucks news on BBC Sounds, Facebook, Instagram and X.
