Wed, 28 Sep 2011 | BUSINESS SALE
Nightclub owner Luminar is inviting offers for the business in an effort to protect its future after it lost 50 per cent of its stock value in one day.
Luminar is the largest nightclub operator in the UK and runs Liquid, Lava & Ignite and Oceana clubs. Offers put forward for its assets have not been enough to bring in returns for its investors. It has not received any bids for the whole company.
The business has warned that its long-term funding options included a rights issue, which would dilute the value of existing shareholdings. In August Luminar was given a second extension by its banks to waive a loan until 27 October.
Luminar’s trading has shown stability since 25 August, with like-for-like sales to 24 September down by six per cent. An 11.7 per cent fall was last reported by the group in the 25 weeks ending 20 August.
The Milton Keynes-based group operates about 70 nightclubs across Britain. Its website states that its clubs have over 11 million customers each year.
Its main branded clubs feature the latest lighting, sound and laser technology, along with 360-degree graphics. Its non-branded, smaller venues include the Sugar Mill in Hull and Batchwood Hall in St Albans.
An established steel fabrication business in the East Midlands offers an attractive opportunity for those looking to enter or expand in the industry.
The business is well-established and offers its products and services across the region. The vendors now wish to retire, with the business representing an excellent acquisition for an existing operator within a similar sector or a new market entrant.
LEASEHOLD
This business provides comprehensive groundworks services to prestigious clients across the UK, offering a seamless turnkey solution.
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.