Churchillian, which has become a well known landmark on Portsdown Hill with scenic views over Portsmouth Harbour and the Solent, was hit by the recent recession which has seen many pubs and restaurants close.
The business has now been sold by Carl Faulds and James Tickell of Portland; acting as administrators for the operating company The Churchillian Limited which went into administration on 2nd May.
This popular local destination faced a difficult time, having built up significant tax and VAT arrears, and faced the threat of a winding up petition. The hospitality industry and in particular the pub/restaurant trade has suffered mixed fortunes during the recession and the subsequently slow economic recovery. Consumers faced with a squeeze on the amount of disposal income available to spend on eating out have become more discerning both in the number of times they eat out and where they go. This has resulted in increased competition between outlets aiming to offer customers, and in particular families with a quality experience at an affordable cost. This pricing competition combined with increased costs for rent, business rates and energy costs have squeezed margins.
Working closely with the company’s landlord Enterprise Inns, the administrators were able to conclude a sale of the business saving 20 jobs and preserving trading links with local suppliers.
Portland Director Steve Godwin commented;
“It is very satisfying to know that this iconic establishment will continue to trade and provide local residents and tourists with a quality dining experience. The fact that we were also able conclude sale and save 20 jobs has been fantastic news for the employees and the local economy. We are confident that this well sought after business will flourish in the coming months and continue to grow its loyal customer base.”