Pub chain goes bust causing 159 job losses

Oakman Inns started trading in 2007 and, according to its website, has more than 1,500 team members and 35 properties throughout England

A hotel and pub chain that has operated since 2007 has gone into administration following a fall in customer numbers and rising costs.

Oakman Inns based in Berkhamsted, Hertfordshire, was founded by entrepreneur Peter Borg-Neal, and operated across Bedfordshire, Buckinghamshire, Oxfordshire and the Midlands.

PwC, its administrators, confirmed "six operational sites" had closed with the loss of 159 jobs.

The firm added it had sold one "freehold property and 13 leasehold sites to Upham Group Limited", which had secured 531 jobs.

Peter Borg-Neal, the founder of Oakman Inns, met Princess Anne in November 2022

PwC said Oakman Inns was an "operator of a high-quality portfolio of pubs and restaurants, across southern and central England".

It added challenging conditions, such as the Covid pandemic which led to closures and "restricted trading", meant the company had to take out "additional borrowings to stabilise the business and preserve its operational footprint".

Ross Connock, the joint administrator at PwC, said: "It's regrettable that six trading sites were not included in the sale, resulting in 159 redundancies.

"Our team of employee specialists are providing support to those affected during this challenging time.

"The hospitality sector continues to face significant and persistent challenges, including a reduction in customer numbers, which has been driven by changing consumer habits and broader economic pressures.

"In addition, operators are contending with rising operating costs, such as increased energy prices, higher food and beverage costs and wage inflation."

The Beech House in Watford has now been taken over by Upham Inns

The six pubs that have closed are:

• Beech House, Watford, Hertfordshire

• Grand Junction Arms, Tring, Hertfordshire

• King's Head, Chipping Ongar, Essex

• Navigation Inn, Lapworth, Warwickshire

• Journeyman, Gerrards Cross, Buckinghamshire

• The George Inn, Ludlow, Shropshire

The Grand Junction Arms, Tring, Hertfordshire, announced it had closed on its Facebook page

Kevin Todd, the executive chairman of Upham Inns, said: "We have been long-term admirers of the Oakman Inns pub estate and the quality of their team and their offer.

"We look forward to welcoming the new team into our family and working together to create an exciting premium pub group, now with 30 fabulous locations."

The businesses that have been taken over by Upham Group are:

• The Three Locks, Stoke Hammond, Buckinghamshire

• The Beech House, Amersham, Buckinghamshire

• The Beech House, Beaconsfield, Buckinghamshire

• The Beech House, Solihull, West Midlands

• The Beech House, St Albans, Hertfordshire

• The Betsey Wynne, Swanbourne, Buckinghamshire

• The Four Alls, Welford on Avon, Warwickshire

• The Kings Arms, Berkhamsted, Hertfordshire

• The Lost Boy, Farnham, Hampshire

• The Navigation Inn, Cosgrove, Northamptonshire

• The Old Post Office, Wallingford, Oxfordshire

• The Penny Farthing, Berkhamsted, Hertfordshire

• The Red Lion, Water End, Hertfordshire

• The Woburn, Woburn, Bedfordshire