Directors appointed EY as administrators after failing to find a “strategic solution to the financial pressures facing the business”.
EY will continue to trade the business, which employs 500 staff and owns 15 pubs and hotels across Scotland, with a view to a sale. Maclay management contracts for a further five pubs – Clerk’s Bar in Edinburgh, The Hope, Munro’s and The Raven in Glasgow and The Wick in Prestwick – will remain in place; the Thistle Pub Company which owns the five outlets is not affected by the administration.
Management contracts for the remaining seven outlets operated by Maclay – Canal Station in Paisley, The Clockwork Beer Co and Dram in Glasgow, Dog House in Balloch, the Laird & Dog in Lasswade, The Steading in Edinburgh and the Wheel Inn inScone – have been transferred to LT Pub Management.
In a statement, Maclay Group said: “In recent months the directors have been seeking a strategic solution to the financial pressures facing the business.
“In light of a solution not emerging in the time available, the directors took this decision in order to protect the employment of its 500 staff and the business which remains profitable.”
Brian Calder, chief executive of Tennent Caledonian Breweries, which entered into a supply deal with Maclay in 2012, said “We can confirm that Tennent Caledonian Breweries (TCB) is a supplier to and has an equity involvement in Maclay Group plc. Following today’s announcement by Maclay Group TCB will work with the bank, the administrators and other shareholders to optimise value for all stakeholders”.