SCOTTISH PUB GROUP MACLAYS CALLS IN ADMINISTRATORS

January 23rd, 2015 | Posted in: Editors' Picks,News

The directors of Maclay Group plc today announced that they have been forced to call in the Administrators after failing to” find a strategic solution to financial pressures facing the business.”

As a result the company has appointed EY as Administrators in a bid to protect the employment of some 500 staff across the 15 pubs and bars it currently owns. However for pubs within the company’s managed estate, seven have been transferred to LT Pub Management. They are Canal Station in Paisley, the Clockwork Beer Co in Cathcart, the Dog House in Balloch, Dram in Glasgow, Laird & Dog in Lasswade, The Steading in Edinburgh and the Wheel Inn in Perth. The administrators EY will honour the contracts for a further five managed houses which are Clerk’s Bar in Edinburgh, The Hope, Munro’s and The Raven all in Glasgow and The Wick in Prestwick.

Administrator Ross Nisbet told DRAM, “We only took over today (23rd January) and we will run the business as normal. We haven’t had an opportunity to look at the books fully but we understand that the underlying business is strong and profitable. It was just that the company had an unexpected funding requirement which led to our appointment. We will trade the company with a view to a sale.”

The pubs owned by Maclay Inns Ltd include Braes in Dundee, the Lansdowne Bar and Kitchen and the Three Judges in Partick and The Tullie Inn in Balloch.

Tennent’s who in 2012 entered into a supplier agreement with Maclays, which also included an equity involvement, released a statement from Brian Calder, CEO Tennent Caledonian Breweries. He said, “We can confirm that Tennent Caledonian Breweries (TCB) is a supplier to and has an equity involvement in Maclay Group plc. Following today’s announcement by Maclay Group TCB will work with the bank, the administrators and other shareholders to optimise value for all stakeholders. ”

The Alloa-based group, run by Steve Mallon,  last filed consolidated accounts with Companies House for a 16-month reporting period, ending 1st February 2014. These figures revealed that operating profits had dipped 15% to £604,616 against £718,302 for the 12-month 2012 financial year. Turnover rose to £13.52 million for the 16-month against £10.43 million reported for 2012, but its pre-tax loss was £199,819.

For more information please contact the Administrators:

Ross Nisbet at EY T: 0131 777 2810

The following two tabs change content below.

DRAM News Team

Editor at DRAM Magazine
DRAM magazine is Scotland’s leading monthly licensed trade magazine. It has been dedicated exclusively to the on-trade in Scotland for the past 23 years. It is independently owned, edited and published in Scotland. The DRAM is innovative, creative and original. First with the news, and the people in the news. Covering all the latest information on pubs, bars, clubs, restaurants and hotels in Scotland.

Latest posts by DRAM News Team (see all)


2017 Award Winners In Full

Wed 16th August 2017

DRAM Lifetime Achievement Linda Johnston – Auchrannie Hotel & Resort BII Customer Service Award Atlantic Bar & Brasserie, Glas... Read more.

Glasgow Pips Edinburgh for Most Gongs at Scottish Bar and Pub Awards

Wed 16th August 2017

Scotland’s licensed trade celebrated in style at the Scottish Bar and Pub Awards on August 15th after the crème de la crème of the i... Read more.

Dug ‘n’ Duck for Millerston

Wed 9th August 2017

The Dug ‘n’ Duck, a new venture between Punch and local couple Ian and Irene Knotts, has taken the place of The New Inn in Mille... Read more.

Buzzworks Recruitment Drive Tonight!

Wed 9th August 2017

Buzzworks Holdings is holding a special event in Kilmarnock this evening aimed at recruiting 40 new members of staff. One of Scotland’... Read more.

August Round Up

Wed 9th August 2017

There was street art, street food and quality rum aplenty at Flor de Cana’s recent Rum Frontiers event, where bartender Ryan Rhodes, of Du... Read more.

Revamp for Hutchesons

Tue 8th August 2017

Rusk & Rusk have revamped and reopened their Merchant City venue Hutchesons and introduced Hutchesons The City Grill. First opened in 20... Read more.

£15m Spend on Queensferry Hotel

Tue 8th August 2017

The Shore Grill & Fish House has been unveiled as part of a £15 million investment at The Queensferry Hotel. The Shore, an open-plan ba... Read more.

Sue Says: August 2017

Mon 7th August 2017

Sue Says: Our editor Susan Young has her say on the industry this month. This time of year it is all about the awards … and over the cours... Read more.

August News Shorts

Mon 7th August 2017

Have a wee read of our news shorts from August! No Hyding on George Street Hyde & Son Coffee Bar and Lounge has opened up within Eden Lo... Read more.

Stats Show Continued Innis & Gunn Growth

Mon 7th August 2017

New figures released by Innis & Gunn reveal that the independent craft brewer increased its group turnover from £11.8m to £14.3m last ... Read more.

August Brand News: Gin

Sun 6th August 2017

Pickering’s Gin & Edinburgh Festival Fringe launch exclusive bottling Pickering’s Gin has launched an exclusive bottling with Edinbu... Read more.

Design Focus: The Coach House

Sat 5th August 2017

The Coach House: 31 Main Street, Bridge of Weir The Coach House, a sophisticated bar/restaurant in Bridge of Weir, is Buzzworks Holdings’ ... Read more.

August Brand News: Whisky

Sat 5th August 2017

Douglas McGibbon Rebrand Douglas McGibbon & Co has rebranded its Clan Denny Single Malt and Single Grain Scotch Whisky range. The new-lo... Read more.

Brand News: Market Report

Fri 4th August 2017

WM Grant Publish Annual Report Wm Grant & Sons published their 2017 Annual Report last month and revealed it to members of the trade at ... Read more.

Raasay Distillery Coming Next Month

Fri 4th August 2017

A brand-new distillery will open on Raasay next month, and it’s expected to employ 10% of the Hebridean island’s population! Isl... Read more.

Leith Wine Cafe To Launch Next Week

Fri 4th August 2017

Leith’s first wine cafe is set to open at The Shore next Tuesday. Already a hub for numerous popular restaurants and bars, the trendy ... Read more.

Design Focus: The Brae

Fri 4th August 2017

The Brae: 26 Townfoot, Dreghorn, Irvine KA11 4EG Take a quaint Ayrshire village with a shortage of eating out options, a boarded up pub wit... Read more.

Brand News: Beer

Thu 3rd August 2017

Heverlee Debuts Packaged Product If you were in Edinburgh over the weekend of the 21st July you may have seen the transformation by Heverlee... Read more.

The Greatest Job Interview In The World?

Thu 3rd August 2017

Grant’s Whisky are sending three candidates on a world tour as part of the interview process for their Global Brand Ambassador vacancy... Read more.

Design Focus: Monty’s

Thu 3rd August 2017

Monty’s: 9 Radnor Street, Glasgow G3 7UA Interconnecting Sauchiehall Street and Argyle Street in Glasgow’s West End, the somewhat le... Read more.