Jobs at Potting Shed bar chain saved after administrators called in

Thursday, 12 December 2019 11:54

More than 200 jobs have been saved after a company which runs the Potting Shed chain of bars went into administration.

There are six venues across the country - Bingley, Guiseley, Halifax, Beverley, Northallerton and Southport.

Potting Shed Trading Limited was placed in administration on December 3.

A statement from the joint administrators said: “Ormsborough Limited, a company backed by funds managed by Downing and owner of 100 per cent of the share capital in Potting Shed Trading Limited, confirms that following a thorough and targeted asset sale process undertaken by Christie & Co, PSTL was placed into Administration on 3 December 2019.

“The offers received from the sale process failed to reach the level of the debt in PSTL and due to a shortage of cash, its position became untenable.

“Alan Coleman and James Fish both at Royce Peeling Green have been appointed as the joint administrators.

“The business and assets of the Company were sold in a pre-packaged administration safeguarding all 240 employees.

“Unfortunately no further information is available at this stage due to confidentiality agreements within the sale agreement.”

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