Administrator Grant Thornton has reported that a total of 27 leasehold pubs formerly run by Pubs ‘n’ Bars have been surrendered to their respective landlords since the company was placed in administration in December 2009 (writes Paul Charity). The company was operating a total of 87 pubs at the time of the administration - the 27 surrendered leases had either trading losses, minimal expected realisations or licensing issues. Grant Thornton has assigned the lease of the Good Companions in Brighton to Indigo Leisure. Two other leases are being assigned and two freeholds have been sold, which means Grant Thornton is running around 55 pubs through management company Asset Manager Solutions. Grant Thornton said: “Whilst a number of sites have been disposed of, this has been very much on an ad hoc basis and the business and assets are not currently being marketed - this strategy has been agreed with the secured creditor.” Anglo Irish Bank (AIB) holds first charge over the company’s assets and has an outstanding debt of around £25m - it’s received £870,512 so far from the proceeds of four pubs. There will no money for distribution to unsecured creditors, Grant Thornton’s David Thurgood has indicated. Grant Thornton has charged £260,000 for its services on the administration so far - it has been extended to June this year and will continue beyond.