Insolvent Compton pub calls time just before New Year
Compton Swan operator apologised to customers who were expecting to attend its New Year's Eve party
A PREVIOUSLY thriving pub, the Compton Swan, unexpectedly closed its doors the day before a New Year's Eve party.
Announcing insolvency on the pub's website on New Year's Eve, the devastated former co-operator, chef Jean-Marc Bidegain aimed a parting shot at pub retailer and brewer Greene King over a perceived lack of support.
He apologised to the many people who had planned on attending the party, but said that after three-and-a-half years in charge he and his business partner Penelope Saxton could not afford to keep the venue open another day.
“We are sorry we didn't had the time to explain the why and how's of our departure but we were at the end of the road and there were no other options unfortunately but to go. We are both devastated and really sad but it had to happen,” he said.
“The business has been a success we have worked our hardest to make it successful, ignoring days off and holidays to be able to reach the standards of service we wanted to offer, we have not failed we have been failed; it is inconceivable in my head that a business that turns such a great amount of sales is not able to make one penny profit.
“We invested huge amounts of money and time and effort but never made a penny, the last year has been the most stressful of all and in all honesty I do not know how we have manage to keep the pub open for so long, with the daily stress of not being able to pay supplier and the bullying approach from our biggest suppliers, brewery, electric, gas, vat, business rate.”
He said Greene King had charged the couple £50,000 a year “for the privilege of buying beer” and that the deal struck with the company left the owners unable to negotiate cheaper deals with other suppliers to save money.
“We hope that Greene King will respect the work that we have put into the place and find successful landlords that can carry on, on the strong reputation that we leave behind us for food and service,” he added.
The brewer said it would not comment on individual cases, but that it felt the contract drawn up between it and the owners was fair, and that it believed the pub could be run as a viable business.
A spokeswoman for Greene King, Elaine Beckett said: "We are absolutely committed to keeping pubs like the Compton Swan open and believe this business is sustainable and will appeal to entrepreneurs running similar establishments. We are working very hard to re-open the pub very soon and will update as soon as we can. I can confirm that some outstanding, highly experienced operators have expressed an interest in taking the business on."
