Press release -
Popular Loughborough bar and restaurant making a comeback having secured a buyer
The future of Browns Lane, a popular bar and restaurant situated in the heart of Loughborough, has been secured having obtained a buyer, and will reopen on Friday 27th September.
Established in 2001, Browns Lane Bar and Restaurant specialises in freshly prepared European cuisine and is also one of Loughborough’s busiest and most stylish cocktail bars. Despite its popularity, the Company encountered financial difficulty, entering Administration in July 2019 having appointed Dean Nelson from specialist advisors Smith Cooper’s Business Recovery and Insolvency team (BRI).
After considering all options as Administrators and having undertaken an accelerated sales process to the open market, a sale of the company’s business and its assets was completed with James Edward Associates Limited, transferring all employees to the new business.
Peter Neagle, Director of James Edward Associates Limited comments “I am delighted to have completed the purchase of Browns Lane Bar and Restaurant. The business presents so many opportunities and we’re excited to shake it up.”
“The mood will be a laid-back bistro bar- one that suits all and every occasion, with an emphasis on casual, not fine dining. We’ll be holding regular live music nights, and our food and drink menus will remain fresh and locally sourced, featuring weekly specials and happy hour every Friday.”
“We are holding a relaunch party on 27th September where customers will receive a free cocktail and tasters of our new bistro and tapas menu, complimented with a live DJ to bring the Mediterranean vibes.”
Dean Nelson, Head of BRI at Smith Cooper comments “We’re very pleased to have achieved a sale for Browns Lane, which secures the trade and preserves employment. The business through its new purchaser will be ideally placed to build on its reputation locally in Loughborough, and further afield, and we wish Peter and his team all the success with his new venture.”
Topics
- Business enterprise
Categories
- insolvency
- restaurant
- loughborough
- midlands
- business
- accountants
Regions
- England
Smith Cooper is one of the largest independently owned and preferred accountancy and business advisory firms for owner managed businesses across the Midlands. The firm specialises in providing intelligent, efficient and cost-effective bespoke advisory services to both corporate and individual clients. Smith Cooper has six offices across the Midlands including Derby, Birmingham and Nottingham.
