Food & Drink Group bars and restaurants go on sale

By Emma Eversham

- Last updated on GMT

Related tags: Investment

Buyers are being sought for a string of bars and restaurants owned by the Food & Drink Group, the Henry J Beans owner which went into administration last week.

Buyers are being sought for a string of bars and restaurants owned by the Food & Drink Group, the Henry J Beans owner which went into administration last week.

Twelve sites, including Jamie`s Bar on Charlotte Street in London, Henry J Beans in Bristol and the Breakfast Club in Birmingham, are being sold through Shelley Sandzer​ after administrators BDO Stoy Hayward appointed them agents.

Seventeen bars owned by FDG were sold as a going to concern to Mainpaint, a new company headed up by Nick Tamblyn, saving 300 jobs.

The remaining 12 units, including a number of Puzzle bars in London, are expected to attract "considerable interest" according to Shelley Sandzer.

Agent Nick Weir said: “We believe that there will be considerable interest in the acquisition of the remaining properties as it’s a rare opportunity to acquire either individual or a cluster of key restaurants and bars in good trading locations. This is particularly the case in London where licensed premises remain hard to come by.”

FDG went into administration last Wednesday after it was unable to raise the finance it needed to continue.

A statement released by the Board said: "The Group has been facing the most challenging economic conditions for decades which has reduced operational performance and has restricted investment in the Group`s brands. These conditions have prevented the Group raising the further financing it needed."

Related topics: Business

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