Mercury launches pub recovery arm

Pub operator Mercury Inns has launched a new recovery service for failing groups of pubs.

Mercury Liquid, founded by Kevin Thornton and Mark Butler, aims to provide long term operational management and support for failing or distressed assets.

During the 90s, Mercury was the largest specialist management company in the UK, looking after and re-building more than 150 outlets at any time for banks, brewers and receivers.

In recent months, Mercury has again been involved with a number of receiverships with the goal of giving the receivers the opportunity to secure the best possible deal for the company by demonstrating its operational potential.

"To start with, we review a business and see what can be achieved quickly to reduce the losses — this can be from using our own buying terms or by taking a close look at the offer across each and every pub or bar in the company," said joint managing director Butler.

"We can then improve operational excellence, introduce robust accountancy procedures and reports, enabling the receiver, bank or insolvency company to take stock of the overall business and seek a sale for a business, which is more attractive to potential suitors."

He added: "We understand the business much better than a professional service team. We can get into the business and make the decisions that only an experienced operator can really make. These include working on reducing costs through better terms, reducing head office wastage and then making certain that the offer works."