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A brewery chain employing 1,000 people in
north-west England has gone into administration.
Cains Brewery, based in Liverpool, makes a range of 11 ales and lagers and
runs more than 100 pubs nationwide.
Administrators, PricewaterhouseCoopers, are working with staff and landlords
to ensure the brewery and pubs stay open while it seeks a buyer for the
firm.
The 158-year-old brewery went into administration after running into
cash-flow difficulties.
Cains, which runs pubs largely in the North West, said it has been battered
by rising costs, the impact of the smoking ban and a disputed tax bill.
Increasing losses
Last month HM Revenue and Customs filed a petition for the company in
Stanhope Street to be wound up because of money it claims they owed.
The firm was also in talks with its bank, Bank of Scotland, to try to borrow
the money, but failed to reach an agreement.
The firm reported widening half-year losses at the end of July, at £4.6m
against £697,000 in the same period last year.
David Chubb, PWC partner and joint administrator, said: "Cains is a
well-established business with a great brand and brewing facility which has
been brewing ales since the mid-19th century.
"It is currently our intention to continue to trade both the brewery and pub
chain businesses.
"We have already received some early indications of interest and we would
also invite any parties interested...to contact us as soon as possible."
Cains has won a number of awards for its ales, most recently the World's
Best Fruit Beer in the World Beer Awards 2007.
Its beer is also the official beer of the 2008 Liverpool European Capital of
Culture.
Established in 1850, it was bought by Sudarghara and Ajmail Dusanj in 2002.
Last year Cains Fine Raisin beer secured the title of World's Best Fruit
Beer in the annual World Beer Awards 2007.
Cains beer is also the official beer of the 2008 Liverpool European Capital
of Culture year.
Cains claims on its website to be one of the fastest growing breweries in
the country, with a £30m annual turnover.
The company operates from a brewery in Stanhope Street, Liverpool.
Established in 1850, it was bought by the Dusanj brothers in 2002.
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