FOR SALE TO THE HIGHEST BIDDER: FIVE PUBS AND TWO HOTELS

McHugh's bar and restaurant has now been put for sale by the administrators KPMG

McHugh’s bar and restaurant in Belfat has now been put for sale by the administrators KPMG

SEVEN licensed premises in Northern Ireland have gone on the market – to the highest bidder.

The five bars and restaurants, along with two hotels, have been put for sale by the administrators of Botanic Inns Ltd.

The the pub and grub chain hit run by Stephen Magorrian hit a financial black hole earlier this year.

The bars and restaurants up for sale are:

* The Kitchen Bar, Victoria Square, Belfast;

* McHugh’s Bar, Queen’s Square, Belfast;

* The Apartment Bar, Donegall Square West, Belfast,

* Ryan’s Bar and Restaurant, Lisburn Road, Belfast

* and Molly Brown’s in Newtownards, Co Down.

The two hotels for sale are:

* The Parador Hotel, Ormeau Road, Belfast;

* and Denvir’s Hotel, Downpatrick, Co Down.

The sale is being handled by estate agents Osborne King.

According to documents, the sale is being handled by “formal tender” and all bids are to be received by Osborne King by Friday, September 13, 2013.

The seven premises can be sold either individually, by combination or in lots.

In May, the Botanic Inns Ltd group went into administration owing creditors millions.

However, less than two weeks later six of the licensed premises under its control were sold.

Administrators KPMG said it had “successfully completed a sale of the venues traded by Botanic Inns Limited”.

The bars have been bought by Horatio Enterprises and Horatio Inns, also known as the Horatio Group.

The two companies are controlled by Stephen Magorrian, who was the former managing director of Botanic Inns Ltd.

KPMG said 300 jobs will be transferred to the new owners.

The businesses which were sold to the Horatio Group were the Botanic Inn, Madisons Hotel, the Kings Head, the Northern Whig, the Elms and the Fly.

The joint administrators John Hansen and Stuart Irwin said are confident of achieving a successful sale of these venues in due course and also securing the continued employment of the remaining 300 plus staff.

The company grew into Northern Ireland’s biggest chain on the strength of its original pub, the Botanic Inn on Belfast’s Malone Road.

 

 

 

 

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