CMC Management, a managed pub operator in Scotland, has been placed in voluntary liquidation.
A statement by the group, which is lead by directors Crawford Mitchell and Gary Colton, said it was hit by a significant downturn in trade that had “made it impossible” for its 15 pubs to continue to trade.
About 100 jobs will be lost following the liquidation, which was granted by Falkirk Sheriff Court last week.
Pubs affected by the voluntary liquidation include the gray Horse in Edinburgh, the Stirling Arms in Dunblane and the Victoria Hotel in Nairn.
Maureen Leslie of MLM Insolvency, which was appointed to handle the process, told The Scotsman newspaper: “It is our understanding that a general downturn in business after the smoking ban was introduced and a significant reduction in trade due to the credit crunch are the two main factors behind the business failing.”
Leslie said that the two directors would continue with their other business CMC Inns, which operates about five pubs separately.
Leslie said: “We are seeing more businesses going into liquidation as a result of the credit crunch.
“Businesses are increasingly finding it much more difficult to make ends meet as people spend less and the cost of running a business increases.”
