Two-week wait on Cains future

13 August, 2008

The administrators of cash-strapped Cains Brewery say it could take up to two weeks to sift through expressions of interest in buying the business.

Pricewaterhouse Coopers has received 50 enquiries about the Liverpool-based brewer and pub company which has gone into administration with heavy debts after making a loss of £4.6 million in the six months to the end of April.

A spokeswoman for PwC said: “There have been around 50 expressions of interest but that’s quite different to a specific offer to buy the brewery.

“It’s now a question of going through them all to sift out the ones that are serious and that process will take a couple of weeks.

“For the time being, it’s business as usual. Suppliers, employees and customers have been supportive.”

She added that “the favoured option is to sell the business as a whole,” though constituent parts will be sold separately if a buyer for the lot doesn’t emerge.

Marston’s has been tipped as a serious bidder for the company, and it could be the option most likely to secure the future of the brewery and its brands.

The Wolverhampton-based brewer has bought Ringwood, Jennings and Refresh UK, and has retained the brewing base of each.

A HM Revenue & Customs winding-up order against Cains lapsed automatically after the company entered administration.

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