Hertfordshire-based company Oakman Inns has confirmed it’s in “advanced negotiations” to take over The Lazy Cow in Warwick.
And this week the company’s chief executive, Peter Borg-Neal, promised that if the deal goes ahead there will be no redundancies at the hotel and restaurant in Theatre Street.
Mr Borg-Neal said: “Tripartite discussions are at an advanced stage between ourselves, Urban and Country Leisure and Downing Capital - which owns the freehold of the property.
“We think Warwick is a great town and have admired this site for a very long time. We believe The Lazy Cow is a perfect fit for the Oakman portfolio.”
Ross Sanders, who took over what was the Globe Hotel and restaurant five years ago and also owns Lazy Cow restaurants in Stratford and Solihull, said: “I have enjoyed five very successful years with this particular location, winning multiple awards for our quality of food and service.
“Over the years we have been approached by lots of interested parties but none has been suitable or interesting enough - plus we were still busy building the foundations of this fantastic business.
“Oakman Inns is a very well-known and respected independent operator, equally winning multiple awards, and mirroring our values.
“The Lazy Cow in Warwick will always be a very special place for me and my team - it’s a beacon of success and I’m proud to be leaving it as a solid platform for someone else to continue its successes and no doubt grow in time.”