BELFAST PUB CHAINS IN FINANCIAL TROUBLE

The Botanic Inn is now in adminstration with 600 jobs under threat

The Botanic Inn is now in adminstration with 600 jobs under threat

ADMINISTRATORS have been appointed to run two Belfast-based pub and restaurant chains.

Botanic Inns Ltd and Kurkova Ltd – which both had the same head office at Delhi Street on the Ormeau Road in south Belfast – have hit the financal buffers following a difficult trading period.

The administrators KPMG say that the companies employ 600 people and its aim is keep the business in “survival”.

They will now be looking for possible buyers to rescue the chains and protect some of Belfast’s best known bars.

The company has been struggling because of a fall off in trade, high rent and a large amount of outstanding debts to the Bank of England and Ulster Bank.

Stephen Magorrian is managing director of Botanic Inns which has 16 pub/bars/restaurants in its portfolio.

Botanic Inns managing director Stephen Magorrian

Botanic Inns managing director Stephen Magorrian

These include Belfast bars The Kitchen, The Apartment, McHugh’s, the Northern Whig and The Botanic Inn.

He is also listed as a director of Kurkova Ltd and his wife Laura is listed as company secretary.

 

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