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."
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Presenting to the market a financially robust builders merchants business for sale, located in Merseyside.
A long-standing construction wholesale operation, freehold substantive site with three storey brick building.
01
|
May
|
Testing technology firm acquired at 3.5x revenue | BUSINESS SALE
MK Test Systems Limited, a Somerset company that designs and...
01
|
May
|
Portfolio of 24 northern pubs acquired by Punch Pubs & Co | COMMERCIAL PROPERTY
A portfolio of 24 pubs across the North East and Yorkshire h...
01
|
May
|
West Midlands engineering firm acquired in pre-pack deal | BUSINESS SALE
A specialist engineering firm based in the Black Country has...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.