kiely slams pubco's critics

Provence founder Paul Kiely has blamed the collapse of his company on the withdrawal of support by his bank in the wake of the demise of London & Edinburgh.

In a statement issued to

the Morning Advertiser, Kiely said: "We sold over £80m pounds worth of property investments to willing buyers. We sub-let over 250 pubs/restaurants to willing tenants - clearly satisfying a demand on both counts.

"Our bank withdrew its support as a result of the demise of London &

Edinburgh. If the bank withdrew its support across the board to businesses, 95% of them would collapse. Of course we made mistakes, but who doesn't?

"The fact is, the positive far outweighed the negative when Provence was trading. Now, with the help of the Morning Advertiser and other critics, the negative has expanded to far outweigh the positive.

"There are far more aggrieved people now than ever before, so well done everyone concerned in trying to bring us down. You have succeeded.

"Unfortunately, it is human nature to condemn, criticise and to revel in the demise of anything that attempts to succeed. However, my view is that it's 'better to try to succeed and fail' than 'to try to do nothing and succeed'.

"Finally, I accept my responsibility for my position in life, (good or bad) and I think everyone else should do the same.

I will never look out of the window to blame others when things go wrong;

I choose instead to look in the mirror. We are all where we are, because whether one is in the gutter, or at the top of one's game, it is by one's own choice.

"I am more than happy

to meet anyone face to

face and defend the trading activities of Provence. This evening I will raise a glass of vintage Krug to the life of Provence and to say goodbye once and for

all to the pub industry."