KAINED HOLDINGS, the operator of several popular bars and restaurants in Glasgow’s vibrant Finnieston hospitality district, is to be wound up over unpaid debts.
By court order, specialist accountants Wylie & Bissett have been appointed to handle the liquidation and it is understood jobs have been secured at the company’s well-renowned venues Lebowskis, Porter & Rye, The Finnieston and its associated Oyster Bar.
Kained Holdings was launched by three friends – Graham Suttle, Scott Arnot, and Maurice Clark – back in 2011, and had since been credited for helping drive the renaissance of the Finnieston strip.
Mr Suttle has recently been outspoken on the impact of the Covid pandemic, Brexit, and the cost of living crisis on the trade. Last autumn, he stated that massive staff, supplier, and product shortages had created ‘new challenges’ for the industry that was already having to adapt after the forced closures of lockdown.
The compulsory liquidation Petition was filed before Christmas, on 14 December, giving control of the company’s assets to liquidator Donald Mckinnon at Wylie and Bissett’s Bath Street office.
After the liquidation was reported in the mainstream press, a spokesperson for the venues commented “What a morning…”, and issued the following statement:-
“Given today’s news coverage and the reaction, we wanted to reach out to you, our customers, our suppliers and our friends to reassure you we are still here!
“It’s business as usual for Porter & Rye, Lebowski’s, The Finnieston and its Oyster Bar.
“The units are not closed and will not be closing – their futures are secure, as are the jobs of the amazing teams who work there. Same staff, same venues, same buildings, same offerings.
“Thank you to everyone who has got in touch, we appreciate and understand your concern, but the outlets are here to stay and your bookings are safe. Thank you as always for your support.”
