The Pheasant Inn sold out of administration

The Pheasant Inn near Hungerford in Berkshire has been sold out of administration to new owners Rupert Fowler, Tim Syder and Martin St Quinton.

The trio already own and operate two pubs in Hampshire; the Fox at Tangley and the Hawk at Amport.

Specialist operator Legacy took over the running of the Pheasant Inn, which has links to horse racing thanks to its proximity to racing centre Lambourn and the Newbury racecourse, for the 13-week administration period, at the request of restructuring firm FRP Advisory.

Under its former ownership the Pheasant Inn ran out of cash during late October 2012 having experienced difficult trading conditions, despite its then owners having invested heavily into refurbishing and extending the original building to provide high quality accommodation.

Rupert Fowler, one of the new owners said: "We are delighted to have secured the ownership of this prestigious pub and hotel which remains at the heart of the local racing, rugby and country sports communities. We look forward to taking the Pheasant to the next stage of its development whilst remaining true to its cultural roots."

Andrew Sheridan, joint administrator and partner at FRP Advisory, said: "We are delighted to have sold the Pheasant Inn following a 13 week trading period managed successfully on our behalf by Legacy, a specialist operator of hotels and inns. Significant interest was generated in acquiring The Pheasant which demonstrates that there are purchasers out there with money to invest in the right opportunities which the Pheasant most certainly is. We wish purchasers Rupert, Tim and Martin every success with their plans for The Pheasant going forward."