Hospitality Collapse: Oakman Inns Shuts Doors, 159 Jobs Lost Amid Industry Struggles

A significant shakeup in the hospitality industry has occurred as Oakman Inns, a pub and hotel chain founded in 2007 by Peter Borg-Neal, has entered administration, resulting in the closure of six sites and the loss of 159 jobs. The chain, based in Berkhamsted, Hertfordshire, had expanded across Bedfordshire, Buckinghamshire, Oxfordshire, and the Midlands, offering a range of high-quality pubs and restaurants. However, it has been severely impacted by decreasing customer numbers and escalating operational costs exacerbated by the Covid pandemic.

PwC, the appointed administrators, revealed that while six operational sites have been closed, they successfully sold one freehold property and 13 leasehold sites to Upham Group Limited, which helped secure 531 jobs. Ross Connock from PwC expressed regret for the closures and highlighted the difficulties faced by the sector, including changing consumer habits and economic pressures like inflation in energy and food prices.

The exact pubs that have closed include prestigious names like Beech House in Watford and Grand Junction Arms in Tring.

Upham Inns, now the new owner, expressed admiration for the Oakman Inns brand and its team, stating their commitment to revitalizing the acquired establishments. The challenges ahead for the hospitality sector remain daunting with the precarious balance between operational viability and shifting market demands. This news highlights the ongoing struggles within the industry, emphasizing a critical moment for businesses relying heavily on customer patronage.