Fri, 13 Jan 2012 | ADMINISTRATION
Midlands-based hotel, bar and nightclub company, Mood Bars (UK) Limited, has called in administrators after suffering an unsustainable drop in revenues.
The company, which operates a range of venues around Leamington Spa and the surrounding area, has appointed Ryan Grant, Simon Wilson and Anne O’Keefe, partners at corporate advisory and restructuring specialists Zolfo Cooper, to handle the administrations process.
It is understood that the administrators have embarked on a search to find buyers for the company's properties and venues, which include TJ's Bar and Bistro, the Thomas James Hotel, Koko's nightclub and the Shakespeare Inn public house. The administrators will be keeping the company running while they carry out their search, in the hope of selling the properties as going concerns.
Mr Grant explained that Mood Bars had been unable to avoid entering administration, after getting into a financial position where they were unable to pay their creditors when they fell due.
"Following our appointment, we will continue to trade the various businesses while we conduct a thorough review of the company," Mr Grant explained. "We would like to thank all staff for their continued professionalism during this process."
This business presents a robust opportunity with an established client base across multiple sectors and a strong management team.
LEASEHOLD
Acquire a reputable accounting practice in the North West with decades of industry experience. The business has cultivated an impressive client profile, which includes a healthy proportion of limited companies.
A well-established accounting practice in West Sussex is now available for acquisition, presenting a unique opportunity for expansion or entry into a thriving market.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.