Ted Kennedy, the veteran pub entrepreneur, has been drafted in to run the 200 or so freehold tenanted pubs that were formerly owned by London Town, writes Paul Charity.
Kennedy, who owns Pebble Hotels and sold Mill House Inns to Punch Taverns, is running GRS Pubs on behalf of bank Anglo Irish. It is understood that Keith Thompson is the firm’s finance director.
GRS Inns was not placed in administration when London Town went through a pre-pack administration in February.
Kennedy, whose Pebble Hotels owns three mid-sized hotels, has been working recently as the key advisor at another tenanted pub company, Pubfolio.
A source said: “The appointment of Ted Kennedy is consistent with the current trend to apply more managed house retailing experience to tenanted estates. Kennedy successfully grew profits at Mill House Inns over a number of years before it was added to Punch’s managed side.”
Another source said: “Anglo Irish saw its loan to Mill House Inns re-paid in full, which is one reason it’s asked Kennedy to oversee these pubs.”
It is understood that back office services for GRS Pubs are being provided by LT Pub Management, the management company headed by former London Town chief executive Billy Buchanan.