THE company behind one of the town’s most popular bar and restaurants has folded.

Q Breweries Ltd, which owns Riva bar and restaurant on Gravesend town pier, went into administration on December 16.

Riva continued to operate as normal over the Christmas period and the administrators are confident it will be sold to a new owner as early as next week.

The news came as a blow to Gravesham Borough Council, owner of the freehold and instigator of the project as part of the multi-million pound refurbishment of the pier.

The council chose Q Breweries, set up by Shaun Smith and Christian Bullas, to build and run the bar and restaurant in 2005, hoping it would help attract tourists to what is the oldest remaining cast iron pier in the world.

Cllr Mike Snelling, leader of GBC, said: “We were advised that our tenant, Q Breweries, had been put into administration. Clearly this is disturbing news but until we have had discussions with them it would be wrong to comment further.”

Despite securing a government grant of around £4 million, the construction was hampered by problems and the restaurant was only opened in November 2007, a year behind schedule and almost two years after the opening of the bar.

The future of both now lie in the hands of administrators Smith & Williamson Ltd.

Stephen Tancock, of the Maidstone branch, said: “The business has traded very well over the Christmas and New Year period.

“All the staff and suppliers are on side and we are now actively pursuing the sale of the business.”

He added that they had a “significant” number of interested parties already, and hoped to secure a buyer by next week.

He also hopes to save the jobs of the 20 plus employees.