Oakman Inns goes bust with the loss of six sites and 159 jobs
PwC said Oakman Inns was an "operator of a high-quality portfolio of pubs and restaurants, across southern and central England". It added challenging conditions, such as the Covid pandemic which led to closures and "restricted trading", meant the company had to take out "additional borrowings to stabilise the business and preserve its operational footprint". Ross Connock, the joint administrator at PwC, said: "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 hospitality sector continues to face significant and persistent challenges, including a reduction in customer numbers, which has been driven by changing consumer habits and broader economic pressures. "In addition, operators are contending with rising operating costs, such as increased energy prices, higher food and beverage costs and wage inflation."
The Grand Junction Arms, Tring, announced on its Facebook page that it has closed. The businesses that have been taken over by Upham Group are: The Three Locks, Stoke Hammond, BuckinghamshireThe Beech House, Amersham, Buckinghamshire The Beech House, Beaconsfield, BuckinghamshireThe Beech House, Solihull, West MidlandsThe Beech House, St Albans, Hertfordshire The Betsey Wynne, Swanbourne, BuckinghamshireThe Four Alls, Welford on Avon, WarwickshireThe Kings Arms, Berkhamsted, HertfordshireThe Lost Boy, Farnham, HampshireThe Navigation Inn, Cosgrove, NorthamptonshireThe Old Post Office, Wallingford, Oxfordshire The Penny Farthing, Berkhamsted, HertfordshireThe Red Lion, Water End, Hertfordshire The Woburn, Woburn, Bedfordshire
Kevin Todd, the executive chairman of Upham Inns, said: "We have been long-term admirers of the Oakman Inns pub estate and the quality of their team and their offer. "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."
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