Big Smoke Pub Co gets bought out of administration

Big Smoke Pub Co has been “acquired out of administration” in a move that will see all staff retained and allow all pubs to continue trading.

The news, which followed earlier reports that Big Smoke Pub Co had appointed administrators, with the situation affecting five of the  pubs from the estate, led to speculation over the fragility of the beer business in connection to the development.

However, speaking to the drinks business, Big Smoke co-founder Richard Craig quashed claims that there would be lay-offs and claimed the brewery would remain unaffected, yet failed to highlight who the new buyers would be or any further details regarding the price of the sale.

Craig told db: “The pub business has already been acquired out of administration with all staff transferred into the new entity and no redundancies. The pubs will continue to trade in exactly the same way as they have done.”

When pressed for a buyer, however, Craig stayed silent. Speaking to industry insiders about the secrecy surrounding the hurried acquisition, one source suggested that Big Smoke is staying silent because its buy-out has links to one of the company’s family members.

Industry sources speculated: “I presume James Morgan’s dad (Richard Morgan, who owns Twickenham Taverns) has pitched in.”

Craig however did disclose that “the brewery is unaffected by this process and will continue to supply the new pub company as well as our other customers”.

To read about the further developments revealing who bought out Big Smoke Pub Co, click here.