Urban Pubs & Bars expands with administration buy

Urban Pubs & Bars has bought almost all of the venues placed into the hands of administrators following the collapse of a number of companies that formed part of the Antic hospitality group in July. Urban Pubs, founded in 2014 by Malc Heap and Nick Pring, has bought 11 of the 13 impacted pubs, eight trading leasehold businesses and three vacant freehold sites. Interpath Advisory was appointed administrator to Elflock Limited, Babel Silk Limited, Brocade Limited and De Gremio Limited in July as the businesses failed to cope with “legacy liabilities” in the aftermath of the Covid-19 pandemic. The rescue of the majority of the venues by Urban Pubs will boost its portfolio to 52 trading outlets across London. Assets acquired include The East Dulwich Tavern in East Dulwich, The Antelope in Tooting and The Sun in Camberwell.   Sam Birchall, head of special situations M&A at Interpath, said the deal demonstrated the “opportunity that exists in the market for successful operators to acquire quality assets as part of their ongoing growth strategies”. The 11 sites acquired by Urban Pubs are:  Leasehold  Red Lion, High Road Leytonstone East Dulwich Tavern, Lordship Lane The Antelope, Mitcham Road Hagen & Hyde, Balham High Street Balham Bowls Club, Ramsden Road Clapton Hart, Lower Clapton Road Elephant & Castle, Newington Causeway The Sun of Camberwell, Coldharbour Lane  Freehold  The Volunteer, Powis Street The Mews, Norbury Crescent Linman & Turner, Penge High Street  Interpath said it remained in “ongoing discussions” with interested parties in respect of three other sites that are trading while in administration – Dogstar, Tooting Tram & Social and Coopers. Davidson Kempner and Global Mutual-backed Urban Pubs saw its operating profit rise by 11% in the year ended 30 April 2023, with turnover up by more than 60% to £52.2m. Like-for-like sales were up by 17%, said the group. Photo by Marcelo Ikeda Tchelão/Pixabay