Ritblat to regain control of Merchant

Sir John Ritblat, the former chairman of British Land, is set to buy back Merchant Inns, his pubs-with-rooms chain, after the company went into administration in mid-October.

The Times​ reports Ritblat is expected to make a bid through Delancey, a family property vehicle, with analysts predicting a price of £20m to £25m.

Robert Breare, the former executive chairman of Merchant Inns who left after an argument with Ritblat, is also understood to be a bidder for the business.

Administrators Deloitte, who were bought in following the discovery of "unknown" financial liabilities, appointed Colliers Robert Barry to find buyers, with 7 November given as the deadline for offers to be lodged.

It is understood that other potential bidders, who include Ted Kennedy, the chairman and founder of Pebble Hotels, have however raised concerns about the short timetable and the limited amount of information made available by Deloitte to Colliers.

Breare and Ritblat teamed up in October 2007 to buy Merchant when it had five sites and grew the estate to six pubs.

They formed Kamside, an investment vehicle, to purchase the five-strong portfolio for about £20m, including £10m of debt.