Thu, 25 Oct 2012 | BUSINESS SALE
The Nono8 bar and nightclub in Derby has been sold out of administration, it has been confirmed.
Following the appointment of insolvency and business recovery expert from Smith Cooper, Dean Nelson, as administrator, the business was put on the market along with its assets to be sold as a going concern.
Blaze Arts and Entertainment Ltd have since purchased the business, keeping Nono8 open for trading.
The business first opened in 2008 when it attracted a crowd of local celebrities, keen to partake in of the concierge and hostess services as well as the luxury range of drinks on offer.
However, initial over-runs on cost, ageing creditors and worries about the company accounts saw various resignations among the directors and other high level staff. The impact of the economic recession sealed the company's fate as new directors were unable to return the business to growth, despite their best efforts.
Mr Nelson commented on the sale: “People have less disposable income and are finding new and less expensive ways to enjoy themselves and sadly, this has led to an overall decline in the bar and pub sector.
“As administrator, my first priority is to rescue a business as a going concern and I am extremely pleased that the sale of Nono8 has secured all employees jobs and Nono8 is now open for trading with all senior management and staff in place to build upon the brand that it had established in the industry.”
The business was first established by our clients in 2017 who built up an excellent reputation and extremely loyal customer base.
Established in the late 2000s, quickly becoming a major presence in the market. The company specialises in medium and long-term hire and sales of vehicles nationwide. Their fleet includes: Ambulances, Patient Transport Seated Ambulances, Secure Cell...
LEASEHOLD
Established in the early 2000s, the company is a long-standing independent recruitment specialist, with a focus on the haulage, industrial and technical. Currently based in the North West, the company prides itself on its strong ethos and upholds a c...
16
|
May
|
Private equity investor uses invoice finance facility in logistics firm deal | BUSINESS SALE
Private equity investor Shilling Group has acquired a logist...
16
|
May
|
Administrators appointed at broadcasting equipment hire firm | ADMINISTRATION
A Crawley-based company that supplies broadcasting equipment...
15
|
May
|
Essex electric truck maker set to appoint administrators | ADMINISTRATION
An Essex-based company that produces electric trucks has fil...
26
|
Feb
|
Essex print firm enters administration | ADMINISTRATION
An ailing printing firm based in Colchester, Essex has falle...
05
|
Jun
|
Chiltern Travel bought out of administration | BUSINESS SALE
Chiltern Travel has been sold out of administration, saving ...
05
|
Feb
|
Aluminium manufacturer bought out of administration | BUSINESS SALE
Versarien PLC says that it has acquired aluminium manufactur...
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
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.