High Flyer pub for sale as parent company enters administration

The High Flyer pub in Ely has been placed into administration, with a sale now being sought for the business.

A popular and historic pub and restaurant, the High Flyer in Newnham Street is part of Orchid Pub & Restaurants Limited. The company has entered administration with 173 of its pubs being sold to rival group Mitchells & Butler, but the High Flyer was not part of the sale.

In total there are 49 pubs that have not been sold, with the High Flyer being one of the best known and most respected of these establishments. The pubs and restaurants still in administration, which employ 936 people, are located across the UK.

Orchid Pub and Restaurants Limited ran into financial trouble as a result of declining sales. Ernst & Young were appointed as administrators to the business and have since set about selling off the pubs.

Alan Hudson, administrator for Ernst & Young, commented: “The pub and restaurant industry has faced increased challenges over recent years as consumers’ disposable income has been squeezed resulting in a significant fall in discretionary spending.

“These challenging conditions have led to a decline of sales across the Orchid Pubs & Restaurants Limited portfolio and resulted in these 49 pubs and restaurants being unable to continue to operate outside of administration.”

He added that the pubs and restaurants would continue to trade without interruption as a going concern while they seek to find a buyer.