Luminar Group Holdings PLC (06239034): administration
- Status
- Administration ended
- Administration began
- 2011-10-27
- Administrators' firm
- EY
- Formerly
- New Luminar Limited; Intercede 2189 Limited
- Incorporated
- 2007-05-08
- Location
- London
- Industry
- 7415
Why it went into administration
- Funding withdrawn / unable to refinance
- 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 tn 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 Leisure 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 Jn addition, the Group sold the entertainment division of the business and the Jumpin’ Jacks and Chicago Rock Cafe brands Ina sale and leaseback arrangement The remaining operating portfolio at the dates of appointment compnsed 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
Administrators' statement of proposals (2012-07-24) · Companies House register