Shannon Inns, a fledgling managed pub group, has withdrawn from negotiations to acquire a package of pubs from Adnams, the brewer of Broadside.
The group, led by entrepreneur John McGrath, had been in advanced talks to buy nine pubs that were put up for sale by the Suffolk brewer and pub operator in November.
It is thought the current conditions in the banking market may have hampered Shannon’s ability to secure a financing package on favourable terms.
Adnams is now thought to be in discussions with other potential buyers and still hopes to conclude a sale of the pubs, which are spread across Essex, Norfolk and Suffolk.
Christie & Co is thought to be handling the sale.
