Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Administrators appointed for Preston Guild Hall

Administrators appointed for Preston Guild Hall

Thu, 06 Jun 2019 | ADMINISTRATION



The company behind the coveted Preston Guild Hall, which has hosted stars like David Bowie and Queen, is set to collapse into administration after making its application to the High Court in Manchester.

Owner Simon Rigby announced the fate of Guild Group Limited in a statement to the public, stating that insolvency specialists The Business Debt Advisor have been called in to handle the administration process, with licensed insolvency practitioner Bev Budsworth appointed as the administrator.

Rigby said the administrator would “aim to maximise the return to the company’s secured and unsecured creditors.

“For individuals who have purchased tickets in advance, we will be ensuring that they receive a refund if the show is not available via the new operator.”

Located in the heart of Preston, the venue was established in 1972 and at one point was the regular home of the UK Snooker Championships and annual UCLan graduation ceremonies. It sports space for 716 seats in its Charter Theatre, and 2,000 in the Great Hall.

Rigby purchased the building from the council in 2014 with the promise of investing £1 million.

However, in light of the administration, the venues have closed indefinitely, with Rigby remarking: “The administration strategy will be to agree terms with a chosen operator who will take over the running of [the venue].”

Despite this, the businesses and shops on the ground floor of the Preston Guild Hall will remain unaffected.

Lisa Matthew, the operations director, added that the business was “exploring all options for reopening whilst we prepare the ground for the new operator.”

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Hair & Beauty Salon
South East, UK

The ‘Turn key’ opportunity was first established by the owner over 40 years ago, who is now looking to find the right buyer to allow them to retire. The business is a multi-faceted business which offers both hairdressing, barbering, beauty service...

Asking Price: Offers Invited
Turnover: £690,000

LEASEHOLD


Music Production Specialist
UK Wide

Highly reputable independent music production and supervision company providing end-to-end solutions across various applications including music supervision music licensing original score recording composer representation and an internal music librar...

Asking Price: Offers Invited
Turnover: £3,000,000

Luxury Train Holiday Provider
North of England, UK

Bespoke luxury train holidays for private individuals to journey across the UK Europe Asia Southern Africa & the Americas including travel on the famous Venice-Simplon Orient Express (VSOE). Experiencing strong recovery following Covid-19 due to a l...

Asking Price: Offers Invited
Turnover: £979,000


View more businesses for sale

News Search

Latest News

 
24
 
Jun
 

E-commerce imports retailer up for sale for £1.6m | BUSINESS SALE

Deals Incorporated, a Manchester-based e-commerce retailer t...

 
23
 
Jun
 

Auto Trader completes acquisition of Autorama at nearly 16x gross profits | BUSINESS SALE

Auto Trader has completed the acquisition of new vehicle lea...

 
22
 
Jun
 

Acquisitive ESG consultancy set to be sold | BUSINESS SALE

An acquisitive environmental and sustainability consultancy ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2022. Business Sale Report Ltd. All rights reserved. www.business-sale.com.