Pure Craft Bars Limited (08022243): administration
- Status
- Administration ended
- Administration began
- 2023-12-22
- Administrators
- Mark Granville Firmin, Michael Thomas Denny
- Administrators' firm
- Alvarez & Marsal
- Incorporated
- 2012-04-05
- Location
- Brighton
- Industry
- 56302 Public houses and bars
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Weak consumer demand
- HMRC / tax arrears
From the administrators' statement
The Company was incorporated on 5 April 2012. The Company is a majority owned subsidiary of Purity Brewing Company Limited (“Purity”). Purity is a wholly owned subsidiary of Purity Brewing Group Limited (“PBGL”), together with Purity and the Company (‘the Group”). The Company operates as a bar and kitchen located in central Birmingham, employing approximately 16 people.
Pure Bar had traded well and was expected to generate a small profit for 2023, despite the impact of train strikes and nearby roadworks impacting footfall. However, the Company had a short-term funding requirement that it did not have the liquidity to meet.
Funding and financial position of the Group
Administrators' statement of proposals (2024-01-04) · Companies House register