25.07.2025 18:27
A well-known restaurant chain that has been operating since 2007 has filed for concordat due to an inability to withstand the sharp decline in customer numbers and increasing cost pressures. The giant restaurant, which incurred significant debt during the pandemic, could not escape from its financial difficulties.
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Since 2007, the UK-based hotel and pub chain Oakman Inns has filed for administration (bankruptcy protection) due to a decline in customer numbers and rising costs.
Oakman Inns, based in Berkhamsted, Hertfordshire, was founded by entrepreneur Peter Borg-Neal. The company operated approximately 30 pubs and hotels in Bedfordshire, Buckinghamshire, Oxfordshire, and the Midlands regions.
531 EMPLOYEES' JOBS PROTECTED
Officials from PwC, which is managing the bankruptcy process, announced that six branches of the business have closed and 159 employees have been laid off. However, one property and 13 leased branches of the company were purchased by another UK-based pub chain, Upham Group Limited. This sale helped to protect the jobs of 531 employees.
Kevin Todd, CEO of Upham Inns, stated, "We have long appreciated the Oakman group's commitment to quality service. With this merger, we have strengthened our goal of becoming a premium pub chain by reaching 28 branches."
In a statement by PwC, it was noted that Oakman Inns offers a "high-quality bar and restaurant portfolio in South and Central England," and it was expressed that the company had to incur significant debts to sustain its operations due to closures and limited trade during the pandemic.
159 EMPLOYEES LEFT UNEMPLOYED
Ross Connock, joint administrator at PwC, said, "Unfortunately, six businesses could not be included in the sale, resulting in 159 people losing their jobs. Our teams are providing support to affected employees during this difficult process."
Serious difficulties are also being experienced across the industry. Changing consumer habits, economic pressures, rising energy prices, increasing food and beverage costs, and wage inflation are significantly challenging businesses operating in the hospitality sector.
WHAT HAPPENED?
Oakman had taken various steps to stay afloat over the past year. In 2023, the company sold two of its pubs to McMullen's, withdrew from the management of Seafood Pub Company in the early months of 2024, and transferred 10 pubs to Brunning & Price in May. However, all these moves were not enough to prevent the bankruptcy process.
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