Town pubs looking for buyers

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A COMPANY which ran two Arbroath pubs has gone into liquidation with both establishments now up for sale.

The Central in Brothock Bridge and The Newgate in West Newgate are both owned by the Aberdeen-based Aberbrothock Bar Company which has now folded.

The firm owes money to HM Revenue and Customs (HMRC) and is currently under the ownership of liquidator Charles Sands of CS Corporate Solutions, which is based in Stonehaven.

Both pubs are continuing to trade while a buyer is found and operator of the Aberbrothock Bar Company, Jim Dear, says he is working towards raising funds to buy back the pubs.

It had been reported that his firm owed as much as £154,000 to HMRC, but he claims this is just an estimate and the actual amount outstanding is much lower.

He explained: “I am disappointed that misleading figures have entered the public domain.

“Most people in the town have been aware for a few weeks now that the business has had some problems, but the £154,000 figure is completely misleading.

“HMRC have based their figures on estimates and part of that figure includes £20,000 corporation tax, which both parties agreed is not owed.

“A following £40,000 relates to money I have put into the business that I am not chasing back so I believe the amount owed is substantially lower than that.

“I still have a possible route to raise the monies needed to buy back the pubs.”

Mr Dear also claims that staff at both pubs have been paid all wages due to them and he thanked customers for their continued support as he tries to rescue the business.

He added: “Staff are paid on a weekly basis in cash and no member of staff is due any money.

“I have to thank my family, friends, staff and regulars for their support.

“It has been a truly humbling experience and it has made me keep my resolve in rescuing the business.”