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300 staff loss jobs at nightclubs
Monday November 7th 2011
Around 300 nightclub staff across the UK are set to lose their jobs after the administrator of Luminar today announced the closure of 11 loss-making venues.
Luminar, which runs Liquid, Oceana and Lava & Ignite clubs in town centres across the UK, collapsed into administration last month after lenders refused to extend a recent period of leniency on its £90 million debts.
Administrator Ernst & Young said the closures represented an acceleration of a turnaround plan for the business and the clubs being closed had already been identified as "non-core".
But Ernst & Young said Luminar's remaining 65 clubs will continue to trade as normal as the administrator seeks a potential buyer.
Alan Hudson, the joint administrator, added that the closures leave a core estate of profitable clubs which have attracted interest from a number of potential buyers.
Copyright © Press Association 2011
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