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Oakman Inns enters administration resulting in closure of six pubs and loss of 159 jobs


Oakman Inns entered administration this week, leading to the closure of six pubs and the loss of 159 jobs.

PwC was appointed as administrator for both Oakman Inns and Restaurants and its development arm, Oakman Dev, on Monday (21 July).

Shortly after, 14 of the group's sites were sold to Upham Inns in a deal that safeguarded 531 jobs. However, no buyer was found for the remaining estate.

The Oakman Group was founded by Peter Borg-Neal, who opened its first pub, the Akeman in Tring, in 2007.

PwC reported that Oakman had been impacted by difficult trading conditions, notably the lasting effects of the Covid-19 pandemic closures, which had necessitated additional borrowing to support the business.

In the period following the pandemic, the administrator noted that elevated interest rates, increasing food and energy costs, and a drop in consumer confidence had all contributed to reduced customer spending across Oakman’s pubs.

PwC said “These pressures have constrained profitability and growth, despite the group’s ongoing investment in its estate and efforts to retain its strong brand positioning in the premium dining market.”

PwC stated that no viable offers were received for a share sale of either of Oakman’s two business divisions. As a result, it determined that selling the business and its assets would yield the best outcome for creditors.

The administrator also confirmed it is collaborating with the Redundancy Payments Service to ensure affected employees receive their statutory entitlements promptly.

Ross Connock, joint administrator at PwC, said: “We are pleased to have entered into a contract for the sale of the majority of Oakman Inns and Restaurants to Upham Group. This encompasses the sale of one freehold property and the transfer of 13 leasehold sites, allowing the continued operation of these pubs and enabling them to continue to serve their communities. Most importantly, this sale sees the transfer of 531 staff members.

“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 six pubs that have closed are:

The Beech House, Watford, Hertfordshire
The George, Ludlow, Shropshire
The Grand Junction Arms, Tring, Hertfordshire
The Journeyman, Gerrards Cross, Buckinghamshire
The King’s Head, Chipping Ongar, Essex
The Navigation Inn, Lapworth, Warwickshire

Following the announcement of the sale of 14 pubs to Upham Inns, the group’s executive chairman, Kevin Todd, commented, : “We have been long-term admirers of the Oakman Inns pub estate and the quality of their team and their offer, ever since Peter Borg-Neal founded the group back in 2007.

“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. Upham Inns are currently in southern locations, and this deal extends our coverage into the Midlands and the south-east.”

The pubs transferring to Upham Inns are:

The Beech House, Amersham
The Beech House, Beaconsfield
The Beech House, Solihull
The Beech House, St Albans
The Betsey Wynne, Swanbourne
The Four Alls, Welford on Avon
The Kings Arms, Berkhamsted
The Lost Boy, Farnham
The Navigation Inn, Cosgrove
The Old Post Office, Wallingford
The Penny Farthing, Berkhamsted
The Red Lion, Water End
The Three Locks, Stoke Hammond
The Woburn, Woburn

Upham Inns operates a collection of countryside inns located in Hampshire, Winchester, Warminster, and Ascot.

In May, amid speculation of a potential sale, Oakman sold 10 freehold pubs to the Restaurant Group’s Brunning & Price in a deal reportedly valued between £50 million and £100 million, according to Sky News.

In February 2024, Oakman ended its management contract with the Seafood Pub Company, the chain it had rescued from administration in 2021.

The previous November, Oakman sold two of its pubs to McMullen’s as part of a broader plan to attract new investment following a strategic review.


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