Pembroke in Gravesend, Sovereign in Ramsgate and Vineyard in Sittingbourne rescued by Stonegate Pub Company after sale by administrators at Bramwell
Published: 09:00, 18 November 2013
Updated: 10:01, 18 November 2013
Jobs have been saved at three Kent drinking holes after administrators sold them from their troubled owners Bramwell Pubs and Bars.
The Pembroke in Gravesend, the Sovereign in Ramsgate and the Vineyard in Sittingbourne have been bought by the Stonegate Pub Company.
In total, 47 people's jobs will be saved by the move – 16 at the Pembroke, 18 at Sovereign and 13 at Vineyard.
They are among 78 pubs sold to Stonegate by restructuring specialists Zolfo Cooper, saving 1,700 jobs nationwide.
Yet the future remains uncertain for workers at the Phoenix in Ashford and the Oak Tree in Sevenoaks, who remain a part of Bramwell.
The company reported a pre-tax loss of £117.7m in its latest accounts and had completed a major restructure in 2012.
It fell into administration last month, blaming cash-flow problems.
Its remaining 107 pubs across the country will continue to trade as normal while administrators try to sell them.
Zolfo Cooper partner Peter Saville said: “We are extremely pleased to have secured the sale of this significant number of units to Stonegate and we wish Stonegate and the staff all the best for the future.
“Our focus now is on working to secure futures for the remainder of the estate and we continue to invite parties wishing to make an expression of interest in these sites to contact Zolfo Cooper.”
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Chris Price