Administration and new beginnings at Laurel

March 30, 2008: Robert Tchenguiz has bought out most of the Laurel Pub Company sites — immediately after placing the firm into administration.

He has formed two firms — Bay Restaurants and Town & City Pubs — for the properties, with his family trust providing more than £50 million of equity for the new concerns.

Laurel has closed some 90 sites recently and the administrator will try to find buyers for these.