Liquid nightclub owners in administration
Days before licence review of former Newbury nightclub Liquid, the chain's parent company calls in administrators
THE company behind a failed Newbury nightclub, Liquid, has gone into administration just days before a review on the Newbury premises' licence is due at West Berkshire Council.
Luminar Group Holdings PLC, the parent company of Liquid, went into administration last week, stating on its website that it was unable to service its debt.
The announcement, made last Wednesday, stated that the company “is unable to meet certain of its repayment obligations” to a group of banks which includes Lloyds TSB, Barclays and the Royal Bank of Scotland.
The statement continued: “Accordingly, the Directors of Luminar have no option but to take steps to place the company and certain of its subsidiaries into administration and to request the UKLA (United Kingdom Listings Authority) to suspend trading in Luminar's shares with immediate effect.”
The group's nightclub adjacent to Market Street, Newbury, and the Kennet Shopping centre closed at the end of September, resulting in the loss of 20 jobs.
The closure was preceded by an application, made by the police, to review the club's premises licence following an incident in which several people were evicted from the club on a night when drinks were marked down to 80p a shot, and fought pitched battles with police.
A spokesman for the group, Stephen Lynn, had said the closure of the club was due to Newbury-specific economic problems.
He said: “The late night entertainment industry in Newbury has been hit hard in recent times and localised economic and operating challenges have resulted in the business being no longer viable."
He also said at the time that the group was hoping to re-open the venue at some point.