Ryan Grant and Howard Smith from Interpath Advisory were appointed joint administrators to Milton Portfolio Op Co 3 Limited on 13 November 2023. At the same time, Ryan Grant and Howard Smith were appointed joint Law of Property Act (LPA) receivers over 25 properties owned by Milton Portfolio Property 3 Limited.
Milton Portfolio Op Co 3 Limited operates 25 pubs in locations across the North East and Yorkshire.
The joint administrators will be trading all 25 sites while they seek a buyer for the business and its assets. Consequently, all circa 264 members of staff have been retained by the joint administrators to assist with trading.
Ryan Grant, managing director at Interpath Advisory, said: “This is a portfolio of profitable, strong performing and established pubs, comprising 21 freeholds and four long leaseholds, located across the North East of England and Yorkshire.
“We will be appointing selling agents in due course, with a view to bringing the portfolio to market at the optimum time to realise maximum value for creditors.”