Pubs for sale as firm folds
One of Ironbridge's most popular pubs has gone into administration after being "squeezed out" of the market, its boss revealed today. One of Ironbridge's most popular pubs has gone into administration after being "squeezed out" of the market, its boss revealed today. Entrepreneur Alex Nicoll said today he was "very sad" to reveal his company, which runs both The Malthouse in the Ironbridge World Heritage Site and also the The Hub in Telford Shopping Centre, had gone into administration. Mr Nicoll, who once owned a string of eateries in the World Heritage Site, said he had launched a new company to run the two pubs until they were sold, to protect his team of 25 staff at The Malthouse, and a further 12 jobs at The Hub. Both pubs are still trading. Read the full story in today's Shropshire Star
This is a mechanism which protects struggling companies from creditors while a restructuring plan is completed.
Mr Nicoll, who once owned a string of eateries in the World Heritage Site, said he had launched a new company to run the two places to protect his team of 25 staff at The Malthouse, and a further 12 jobs at The Hub.
He urged customers to back his businesses after vowing to stay open with a full programme of entertainment until the leases were sold and said he would not be closing the doors.
Mr Nicoll blamed the downturn in one of his most prominent businesses on a 15 per cent drop in the number of visitors to Ironbridge, three weekends of flooding, and a rise in the number of new restaurants in the area.
Mr Nicoll said: "The company that has traded as The Malthouse has gone into administration.
"What we are doing is putting The Malthouse on the market and, in the interim, I've set up a new company to run it. The reason for that is so that I can keep The Malthouse trading and maintain all of the jobs.
"Sadly it is the same story for The Hub."
The lease for The Malthouse, which is owned by Punch Taverns, is on the market for £150,000. Offers are invited for The Hub's lease.
Mr Nicoll, 42, has run The Malthouse on The Wharfage for 10 years. He opened The Hub at the end of 2004.
He said it was sad news for him, but most importantly his customers, although he wanted people to know both pubs were still open.
"The Malthouse is really lovely, but unfortunately we have been squeezed by new ventures," he said.
"I genuinely hope they are successful which I am sure they will be. There are some fantastic places which weren't there a few years ago."
He added: "I think it is our business that is no longer viable, but The Malthouse presents a fantastic opportunity for a new buyer."
By Kirsty Marston
