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Numerous pubs scattered across London face closure following the entrance of the operating company into administration. Joint administrators Nick Holloway and Steve Absolom, representing Interpath Advisory, have assumed control over RedCat Leased Pubs Limited (RCLP), a subsidiary of the RedCat Group.
RCLP, responsible for managing 10 pubs throughout the UK, has succumbed to the broader challenges gripping the pub sector. Factors including the aftermath of COVID-related lockdowns, evolving consumer behaviours, and the escalating cost-of-living crisis have taken their toll on the company’s viability.
Interpath confirmed that RCLP, plagued by financial losses, had reached a point where meeting its financial obligations became untenable, necessitating the appointment of administrators.
The administrators have initiated proceedings to market all the affected pubs’ leases, business operations, and assets. Amidst these developments, the administrators have maintained operations for three tenanted sites and two managed sites, allowing them to continue trading.
However, with the appointment of Interpath, five remaining sites have ceased operations. It’s noteworthy that RCLP has no active employees, indicating a stark reality for the affected establishments and their immediate futures.
This development underscores the profound impact of ongoing economic challenges, particularly within the hospitality industry. As London’s pub scene navigates these turbulent waters, the fate of these establishments remains uncertain, with the hope that viable solutions emerge to preserve their legacy and significance within the community.
