Liquidators to call time on Morrissey's pub
THE pub business fronted by former Men Behaving Badly TV star Neil Morrissey and operated by celebrity chef Richard Fox has gone bust with debts of £767,965.
Morrissey Fox Inns Ltd was placed into voluntary liquidation last Thursday, owing money to more than 80 creditors, many of them local traders.
The company, launched in May last year, had been sublet Ye Olde Punchbowl Inn at Marton-cum-Grafton, near Boroughbridge, which has now closed less than 18 months after its VIP opening with guests from Emmerdale and Coronation Street.
Liquidator Andrew Bowers, of Leeds-based insolvency practitioners RE10 Finance Ltd, blamed the recession for the failure of the Punchbowl, made famous on a Channel 4 documentary series featuring Mr Morrissey and Mr Fox.
He said: “It is a difficult pub to make money out, of no matter how famous you are. They spent a lot of money on it hoping to turn it around and get people in.
“Takings were pretty good at one point but things got worse over time. They probably could not opened it at a worse time.”
In July, Mr Fox tried to restructure the business in a company voluntary arrangement approved by creditors, but turnover was lower than forecast.
There were 82 individual creditors including the bank, landlord, lease holder, revenue and customs, current and former directors and various trade creditors.
There were no real assets because the pub had been running at loss. It ceased trading last Tuesday when half a dozen staff lost their jobs.
Although Mr Morrissey was the famous face behind the bar, Mr Fox was the sole director.
Their micro-brewery business, Morrissey Fox, is not affected.
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Thursday 24 May 2012
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