Pub chain with venues in Leamington, Warwick and Kenilworth set to enter administration
The owner of a chain of pubs in and around Warwickshire is set to enter administration.
Revel Collective - which trades under the names Revolution, Revolución de Cuba and Peach Pubs - announced on Monday January 26 it would be filing “a notice of intention to appoint administrators”.
Peach Pubs operates several venues across the UK – and in south Warwickshire it is responsible for The Rose and Crown in Warwick, The Star and Garter in Leamington, The Almanack in Kenilworth, The White Lion in Radford Semele and The One Elm in Stratford.
The administration notices comes after the company’s board had been trying to find buyers.
In the company’s notice it said: “As noted in the previous announcement, the board has been actively pursuing the Formal Sale Process to identify an acquirer or acquirers for the business. Those discussions are well advanced, and the board anticipates a further announcement in the coming days.
“Since the transactions being contemplated are not expected to deliver any return to shareholders the board has resolved to take action to protect creditors.
"Unless circumstances change, and in accordance with statutory requirements, the board intends to appoint administrators within 10 business days.”
However, despite the announcement, the company said the pubs would be open and trading as normal.
It said: “The business will continue to trade and the company will continue to work alongside advisers in order to preserve as much value as possible for all stakeholders as it advances a potential sale of all or parts of the business.”