Owners of The Royal Victoria Hotel, Neil and Nicola Hancock, have spoken out against the Marstons Pub Company in explaining their sudden departure from the business.
The Hancocks, who left Newport last week, said that declaring insolvency was the hardest decision they have ever made.
Mrs Hancock said: “We have had six-and-a-half years of happiness and pure enjoyment, on a daily basis, and we had fallen in love with the area and people.
“Our children were settled, but unfortunately, we have battled with the brewery for the last two years to get them to understand that the Vic is a hotel and not a pub.
“With rent at £2,500, utility bills of nearly £1,000 per week, and the other numerous overheads, it eventually got the better of us, we are simply devastated to have left.”
The Hancocks explained the brewery wanted them to undertake 100 per cent repair and renewal of the property without offering any financial support.
Mrs Hancock added: “They were not sympathetic to us, or to the fact that the hotel was a main focal point for the community.
“So long as the rent was paid, and beer ties met, it didn’t matter that we were having no return in our investment.
“We were continually losing money, having put all of our insurance policies and savings into the business to keep it afloat. This is about the sheer greed of the brewery, what is a small fortune to us is peanuts to them.”
They were also keen to account for the speculation surrounding their quick exit, Mrs Hancock said: “The cut off point wasn’t easy to decide, and with functions and accommodation coming in constantly, we took each day at a time.
“We also had to consider our children, their exams, and how the news would turn their lives upside down.
“It has hurt us that some of the staff have spoken out, but the insolvency practitioner explained to all of them, that they would get everything that they were entitled to.”
Last year the Hancocks contacted Wrekin MP, Mark Prichard, who presented their situation to the House Of Commons and to the Industry of Fair Trading.
Mrs Hancock said: “We got our issue as far as it would go but the brewery remained a closed book.
“We don’t look back with any bitterness, we just wouldn’t want anyone else to go through what we have endured and lost.
“We would like to say a sincere thank you to everyone who supported us and the entire family will treasure the fond memories of running The Royal Victoria Hotel.”
The Marstons Pub Company this week reiterated that they had done all they could to help the couple and had not imposed a 50 per cent rent increase on the hotel.
