CCT subsidiaries go into administration

CC Taverns and Jack Beards, two subsidiaries of CCT Group, the multiple-site pub business led by Chris Compton, have been placed into administration.

The two companies were placed into the hands of the administrator Robert Hewitt, of Gibson Hewitt, by Compton on Monday.

CCT Group, the parent company of the two pub groups is unaffected at this time and it is unsure what assets, if any, Compton has been left with.

Of the 32 leased and tenanted pubs affected, around a third have now been handed back to landlords — including Enterprise Inns and Wellington Pub Company.

The administrator is trading the remainder of the estate — and a number are already up for sale.

M&C Report​ understands that Christie & Co, the property agents, are advising the administrators regarding disposals.

Compton said the groups — which operated wet-led community pubs — had been deeply impacted by the smoking ban and the recession.

He said: "It's a tough world out there and it is only going to get tougher for these kind of pubs. We have been struggling since the smoking ban and the position just became untenable for us."

He added the company had recently trimmed itself of its bottom end pubs - but had been unable to make any further disposals because of the market conditions.

Compton formed both companies in 1990s, after previously working for Inntrepreneur and taking on his first pub in 1981.

Robert Hewitt, administrator, told M&C Report​ a third, or around 10 pubs, had been returned to their landlords.

He said: "Our aim is stabilise the remainder of the business and we have agreed to sell a number of outlets."