A BARROW town centre pub is set to go under the hammer with a guide price of £65,000.

The Knights in Dalkeith Street is one of the lots at Auction House Cumbria's sale at the Coronation Hall in Ulverston on October 31 at 6.30pm.

The venue was initially put on the market for £225,000 but has failed to attract a buyer.

The Knights was owned by Five (UK) Ltd which went into voluntary liquidation in March.

The company was made up of Barrow directors Jeffrey Athersmith, Graham Edwards, Graham Rushton, Jon Wheeler, and Anthony Hoggan who is based in the North East.

Five (UK) was set up in 2005 and during its operation was the company behind Circus Circus, Bar Five/The Nines, The Knights, and latterly The Derby.

A statement written by secretary Mr Edwards revealed that at the time of liquidation the company had a £140,000 mortgage on The Knights in Dalkeith Street.

Five (UK) had also run The Derby in Dalton Road until earlier this year. The firm rented the premises and Land Registry leasehold title documents show the pub is now rented by Gorette Wormall; the sister-in-law of Barrow businessman John Wormall.