Deal offers new lease of life for three Manchester bars

Three Manchester bars that fell into liquidation in earlier this year are reopening.

A deal announced today (March 27) will see new operators take over Odd bar and The Blue Pig in the Northern Quarter and Oddest bar in Chorlton.

Duff & Phelps was appointed as the liquidator for the venues in January.

Charterfields, the valuations firm tasked with disposing of the bars’ assets, persuaded the landlords of all three properties to cooperate while new tenants were found.

The company said an agreement is now in place for two established operators to acquire the bars’ assets and take over the premises.

Odd and Oddest have been taken over by Matt Nickson, founder of music venue Matt & Phred’s, alongside business partner Adam Regan.

The Blue Pig will be run by the company behind Tusk and Walrus, Mark Andrew Developments (MAD).

Charterfields director Ian Maycock said: “Normally when a bar fails, either the landlords or the liquidators immediately remove and sell the assets.

“However, we recognised that in this case, it would be better for all concerned to keep the bars’ assets together rather than selling them piecemeal – particularly given the location and high-profile nature of these venues.”

He continued: “Fortunately, the landlords immediately saw the benefits of our suggestion and agreed to cooperate with us.

“It has taken us just eight weeks to complete negotiations and hand the keys over to the new operators. I am sure it will not be long before plans are revealed and customers are once again enjoying these popular bars.”

Duff & Phelps’ Jimmy Saunders commented: “There are a number of challenges facing independently owned bars and restaurants including food and drink inflation, business rate rises and the impact of national minimum wage, all at a time when competition is increasing.

“We are pleased that in difficult circumstances Charterfields’ collaborative approach has helped to secure the future of these three popular venues and it should be a model for others to follow.”

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