Oakman Inns Enters Administration as Upham Group Acquires Majority of Estate

The hospitality industry has been dealt another significant blow following the administration of Oakman Inns and Restaurants Limited and its development arm Oakman Dev Limited on Monday, July 21st.

The move has resulted in immediate site closures and job losses, while also triggering a substantial acquisition that will reshape the premium pub landscape.

PwC’s restructuring specialists Ross Connock, Mark James Tobias Banfield, and Tom Crookham have been appointed as joint administrators to oversee the process. The administration has led to the immediate closure of six trading locations, resulting in 159 redundancies across the affected sites.

PwC said Oakman Inns was an “operator of a high-quality portfolio of pubs and restaurants, across southern and central England”.

It added challenging conditions, such as the Covid pandemic which led to closures and “restricted trading”, meant the company had to take out “additional borrowings to stabilise the business and preserve its operational footprint”.

However, in a move that provides some stability to the sector, Upham Group has successfully acquired the majority of Oakman’s portfolio.

The acquisition encompasses 13-14 operational sites, effectively doubling Upham’s current estate and establishing the group as a more significant player in the premium pub market.

Kevin Todd, Executive Chairman of Upham Inns, expressed enthusiasm about the acquisition, highlighting the strategic value of Oakman’s established operations. The deal extends Upham’s geographical reach beyond its traditional southern strongholds in Hampshire, Winchester, Warminster, and Ascot, providing access to prime locations across the Midlands and South East.

The expanded portfolio will comprise 28 locations, representing a significant scaling opportunity for Upham Group. Todd emphasized the quality of Oakman’s team and operational standards as key factors in the acquisition decision, suggesting confidence in retaining existing staff and maintaining service levels across the acquired sites.

The administration marks the end of an 18-year journey for Oakman Inns, which began when founder Peter Borg-Neal opened the flagship Akeman pub in Tring in 2007. The group had grown to operate approximately 30 rural and suburban establishments across England, employing over 1,600 people at its peak.

The Berkhamsted-based operation had established itself as a notable presence in the premium pub sector, focusing on countryside and suburban locations that appealed to both local communities and destination diners. The group’s development arm, Oakman Dev, had been instrumental in expanding the portfolio through strategic site acquisitions and refurbishments.