Mike Clayton leaves Herald Inns & Bars
Herald Inns & Bars, the high street managed operator jointly owned by Trevor Hemmings and Halifax Bank of Scotland, has parted company with its managing director Mike Clayton, the Morning Advertiser has learnt.
Clayton was previously managing director of Jennings before joining Herald two years ago.
He has been replaced by Kevin Allcock, whose previous jobs have included group operations director at high street operator Yates.
He was more recently managing dirctoir of Leisure Parcs, the Blackpool leisure attraction business.
He said: "We have recently undertaken a strategic review of the whole business and we are currently fine-tuning the detail to enable us to deliver our future plans. I am looking forward to not only developing our current portfolio of businesses, but to growing the scale of our business through appropriate and timely acquisitions.
"Our business performance is stable, in the main thanks to the diligence of our experienced operational team. However, we can not stand still in such an innovative and fast-moving industry,"
Herald Inns made a loss of £3.6m on sales of £28m in its most recent reported financial year to 31 March 2005.
The company placed its Brannigans and Mood late-night brands on the market in October last year through agent Christie & Co.
However, it is believed that the 15-strong group of bars, which had sales of around £20m per annum, have now been withdrawn from the market.
Herald, which currently has 57 sites, was formed out of a number of businesses including Bakersfield Entertainment, Mustard and Valleyhill
