Wed, 10 Oct 2018 | ADMINISTRATION
Bar firm Burning Night Group, the owner of a number of Bierkeller Entertainment Complexes around the country, has fallen into administration.
Corporate recovery and professional services firm Begbies Traynor have been called in to handle the administration. Partners Andrew Mackenzie and Julian Pitts have been appointed as joint administrators and have also been assigned as joint administrators of Cornertrack Limited, a fully-owned subsidiary of Burning Night Group and supplier for the venues.
The administration comes after the closure of the company’s Cardiff venue at Millennium Stadium.
Burning Night Group was established in Leeds eight years ago and has since grown its portfolio to encompass six different themed bars and restaurants. Its venues span across cities like Leeds, Liverpool, Manchester, Birmingham and Nottingham.
In spite of the closure of the Cardiff venue, the other five Bierkellers will continue trading operations and have in fact reported growth during the course of the last financial year, with expectations of further growth in the following years.
Joint administrator, Andrew Mackenzie said: “It is important to stress that the companies which own the Bierkeller leases are not in administration and we are working closely with management and lenders to continue to trade these prime assets to their full. We are currently seeking a buyer for the venues in order to bring about the best outcome for the company’s creditors, staff and customers.”
The Burning Night Group employs more than 500 members of staff across the UK with an annual revenue of more than £25 million in the 2017/2018 financial year. Bierkellers comprises a significant part of the Group’s operations.
For all our administrations listings, click here. For more news stories about administrations click here.
Offers a wide range of fashionable, chic and affordable clothing items for customers throughout the UK and internationally. Retails its products in sizes 8 to 32, maintaining its price point across the range.
LEASEHOLD
A well-established brewery and tied pub with a multitude of award-winning cask ales and bottled beers in operation for over 37 years. Serves 291 active clients, including pubs, wholesalers, off licences and other brewers. Due to its consistently high...
FREEHOLD
Offers a comprehensive range of high-end products for multiple clients. Has won several awards in a variety of sectors. Works with circa 150 active clients, all of whom provide repeat and reliable custom. Management team is capable of running the com...
LEASEHOLD
26
|
Feb
|
Hanson-owned brickwork contractor closes down | BUSINESS NEWS
Brickwork firm Irvine-Whitlock, a subsidiary of building mat...
25
|
Feb
|
Fairstone secures further backing from PE firm TA Associates | BUSINESS NEWS
Acquisitive wealth management firm Fairstone Financial Manag...
24
|
Feb
|
Nestlé acquires recipe kit firm SimplyCook | BUSINESS SALE
Nestlé has strengthened its position in the e-commerc...
Sign up to receive our acquisition alert emails to get your FREE guide
18
|
Jun
|
Hotel chain Suite Hospitality enters administration | ADMINISTRATION
Suite Hospitality, which operates hotels in Exeter, Windsor ...
27
|
Apr
|
Lincs Lifts seeks buyer after appointing administrators | ADMINISTRATION
Scunthorpe-based powered access hire business Lincs Lifts is...
03
|
Apr
|
Benito’s Hat to continue trading despite entering administration | ADMINISTRATION
Fast-casual Mexican food chain Benito’s Hat has entere...
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