# Luminar Finance Limited (05293864)

> Why UK company 05293864 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05293864

- **Status:** Administration ended
- **Administration began:** 2011-10-28
- **Administrators' firm:** EY
- **Formerly:** Intercede 1981 Limited
- **Incorporated:** 2004-11-23
- **Location:** London
- **Industry:** 6523

## Why it went into administration

- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Property / lease costs
- Sustained trading losses
- Regulatory change or action
- Parent or group failure

## From the administrators' statement

Prior to the appointment of the Joint Administrators, the Group was the largest nightclub operator in the United Kingdom, operating from 79 premises, including a head office function located in Milton Keynes At the dates of appointment, the Group employed c 3,056 people nationally, predominately on a part time basis

The Group was established in 1988 and following a period of growth floated on the London Stock Exchange (“LSE”) in May 1996 In May 2000 the Group acquired Northern Letsure for c £392m, expanding the portfolio to c 237 nightclubs and late-night bars Expansion continued in subsequent years with the opening of additional venues, predominately being consolidated under the brands Oceana, Lava & Ignite and Liquid

The Group has undergone a number of reorganisation programmes Starting in June 2005 the Group sold 49 nightclubs In a management buyout In addition, the Group sold the entertainment division of the business and the Jumpin’ Jacks and Chicago Rock Cafe brands in a sale and leaseback arrangement The remaining operating portfolio at the dates of appointment compnised 70 trading nightclubs together with 9 non-trading sites Included in the 70 trading nightclubs are 2 nightclubs operated under licence, these are discussed in further detail below

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05293864/filing-history/MzA1MDQxMTE1MWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05293864

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.