Crab & Lobster restaurant and Crab Manor Hotel sold in multimillion-pound deal

York Press: The Crab & Lobster The Crab & Lobster

THE Crab & Lobster restaurant and Crab Manor Hotel are under the ownership of a new company after administrators completed a multimillion-pound pre-pack deal.

The business, based at Asenby, near Thirsk, along with the popular Trenchers fish and chip shop in Whitby, fell under the leisure group made up of Vimac Group, Vimac Estates and Vimac Trading.

The group, owned by Paul Mackings, was struggling with debts of £15 million following earlier acquisitions which had since ceased trading.

On December 16, last year, Gerald Krasner and Andy Haslam, of Begbies Traynor, were appointed as joint administrators to the group and immediately completed a pre-arranged sale of Trenchers and the Crab & Lobster to Kymel Trading Ltd, also owned by Mr Mackings.

Mr Mackings is believed to have paid £4.5 million to buy the two restaurants under Kymel Trading, with administrators now seeking to sell two former nightclub properties based in the North East and owned by the group.

Comments (4)

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11:42am Sat 25 Jan 14

non pedalling pete says...

Superb restaurant my favorite fish restaurant. Hotel is also first class but will the new owners be retaining the hidden beer tap.if you find it you can drink as much as you like.I found it.
Superb restaurant my favorite fish restaurant. Hotel is also first class but will the new owners be retaining the hidden beer tap.if you find it you can drink as much as you like.I found it. non pedalling pete

7:47pm Sat 25 Jan 14

ouseswimmer says...

Always amazes me why someone with a great business over extends into other areas and places it all at risk. Both fish restaurants must make a million a year profit yet for some reason this was not enough.
Always amazes me why someone with a great business over extends into other areas and places it all at risk. Both fish restaurants must make a million a year profit yet for some reason this was not enough. ouseswimmer

6:03pm Sun 26 Jan 14

yorklaidtorights says...

Bring in the administrators, arrange a pre-pack, dump £15 million of debt and buy your assets back for a fraction of the price. Nice work if you can get it.
Bring in the administrators, arrange a pre-pack, dump £15 million of debt and buy your assets back for a fraction of the price. Nice work if you can get it. yorklaidtorights

8:57pm Sun 26 Jan 14

AB- says...

What a dark dingy place this is, worst xmas lunch ever. Never return
What a dark dingy place this is, worst xmas lunch ever. Never return AB-

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