THE company behind two town centre pubs has gone into administration.

Bramwell Pub Company, which owns The Calder in Accrington and The Bridgewater in Darwen, made the announcement after posting pre-tax losses of £117.7million.

The pubs, part of the firm’s Smith and Jones brand, are still open for business.

Administrators Zolfo Cooper have been enlisted to handle the restructuring of the firm, which saw more than 30 of the chain’s 185 pubs shut down immediately.

The Lancashire Telegraph understands the sale of the company is at an advanced stage.

Peter Saville, partner at Zolfo Cooper, said administrators were appointed after the firm experienced cash flow problems due to the ‘current challenging economic climate’.

He said: “We will continue to trade the business while exploring all possible options for its future, including a sale of the business and would like to thank the staff for their continued support and professionalism during this process.”

Manager of The Bridgewater in Church Street, Darwen, Adam Hulme, said it was good news for his pub.

He said: “We are 100 per cent still open and it is business as usual as far as we are concerned.

“It is good news for The Bridgewater as the company looks likely to be taken over by a big company.

“It looks like there could be come investment coming our way.

“This sort of thing happens all the time in the industry and we will be absolutely fine.”

Nobody at The Calder was available for comment.