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UK Businesses For Sale

Latest Deal Buzz
Ramada in Leeds has been sold07/04/2008
Pontin's holiday company sold to former owner28/03/2008
Pub operator prepares for auction03/03/2008
PA Sport Division in a Potential Sale18/02/2008
Setanta Prepared to Consider Offers13/02/2008
Ladbrokes Buys Chain of Bookmakers08/02/2008
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Cavendish to take on 26 of Luminars lossmaking clubs
18/04/2008

Britain's largest nightclub operator, Luminar Group, is due to dispose of 26 of its under performing sites in a deal made with Cavendish, a rival company. Luminar will be left with a loss of nearly £10m. Luminar is to pay Cavendish £880,000 to takeover the 26 sites.

Cavendish Bars, which was established by Christian Arden, will purchase the five companies holding the leaseholds for £1 each.

When Cavendish takes on the 26 clubs, this will enable Luminar to focus on its core branded clubs like Oceana and Liquid, of which it has almost 100.

Another benefit to the sale is that it will remove Luminar from any liability on sites it previously sold to Candu Entertainment, which went into administration last month.

In March, Luminar said it could be subject to a liability of £3m due to sites it had sold on to Candu before its administration.

Luminar had a loss of £1.5m in the year to the end of February.After the disposal Luminar will be left with 90 nightclubs and a further 18 in development.
Net-a-Porter.com could be put on the market
12 May 2008
Natalie Massenet, founder of the online fashion retail business, Net-a-Porter.com, is thought to hav...[more]
Dynmark could be put on the market
09 May 2008
Mobile bulk messaging group, Dynmark, is undergoing a review of its business which may lead to a sa...[more]
Diageo may sell Guinness brewery site
09 May 2008
Diageo, drinks company, is to announce restructuring plans for its Irish Guinness business. This pla...[more]
Fresh Media Group to sell all or part of business
07 May 2008
British media group, Fresh Media Group [FMG], has decided to sell Ceros, its online interactive ma...[more]
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