The Lost Boy pub in Downing Street, Farnham, has new owners after its previous operator, Oakman Inns & Restaurants, went into administration.

Upham Inns has taken over the venue, adding it to its collection of pubs and restaurants across southern England, including The Thomas Lord in West Meon and Harpers Steakhouse in Haslemere.

Oakman Inns cited a combination of post-pandemic challenges, high interest rates, and rising costs as reasons for its financial difficulties, which have led to widespread closures.

In total, 19 Oakman sites will either be permanently closed or sold. The changes will result in 159 job losses, while 531 staff members will transfer to new ownership.

In a statement, Ross Connock, joint administrator at PwC, said: “We are pleased to have entered into a contract for the sale of the majority of Oakman Inns and Restaurants to Upham Group.

“This encompasses the sale of one freehold property and the transfer of 13 leasehold sites, allowing the continued operation of these pubs and enabling them to continue to serve their communities.

“Most importantly, this sale sees the transfer of 531 staff members.

“It’s regrettable that six trading sites were not included in the sale, resulting in 159 redundancies. Our team of employee specialists are providing support to those affected during this challenging time.”

The Lost Boy, originally built as a private home in 1717, is one of the town’s notable examples of 18th-century Georgian architecture.