Pub operator set to exit sites as administrators called in
A pub operator with a significant Midlands portfolio has cast doubt on the future of some of its sites.
RedCat Pub Company, an investment vehicle founded and chaired by former Greene King CEO, has said that Rooney Anand, says it has undertaken a strategic review of its business in the face of “significant challenges” facing the hospitality industry.
The firm, which owns 17 pubs across the East Midlands, says it has decided to exit several sites that are either under performing or “do not suit the overall estate”.
RedCat Leased Pubs, a self-contained subsidiary comprising of 10 leasehold pubs, has appointed Nick Holloway and Steve Absolom from Interpath Advisory as joint administrators.
A further group of five sites within the managed division will also be marketed for sale in the coming weeks, taking the total potential number of sites for sale to 14.
Meanwhile, Redcat has appointed a new executive team lead by its group CEO Richard Lewis.
Lewis said: “I am proud of RedCat and what has been achieved since inception back in 2021. The launch of this new Executive Team and our recent hires, make me very excited about the future of the business.
“Some difficult but decisive actions have had to be made to position the business for future success. It is never easy to say goodbye to some fabulous teams – I am grateful to each one of our employees. I am confident that with these actions and the formation of my new executive team, it will put RedCat and Coaching Inn Group in a solid position for growth, investment and future acquisitions.”
A spokesperson for Redcat declined to name the affected venues.
Redcat runs the following pubs in the East Midlands:
Derbyshire: Meynall Ingram Arms, The Cock Inn
Leicestershire: The Blue Bell Inn, The Curzon Arms, The Windmill Inn, The Langton Arms, The Crown Inn
Lincolnshire: Smiths of Bourne, Wig & Mitre, The Jubilee Garage
Nottinghamshire: Copper Mapperley, Tom Browns Brasserie, Waterside Kitchen & Bar, The Price Rupert, Copper Nottingham City, The Cross Keys
Rutland: The Lord Nelsons
