Rileys Clubs Limited (06853841): administration
- Status
- Administration ended
- Administration began
- 2012-11-23
- Administrators
- Jane Bronwen Moriarty, Allan Watson Graham
- Administrators' firm
- KPMG
- Incorporated
- 2009-03-20
- Location
- London
- Industry
- 93199 Other sports activities
Why it went into administration
- Sustained trading losses
From the administrators' statement
The Group traded 108 bars and snooker halls across the UK with its head office located in Milton Keynes It had circa 800 staff employed by all of the Compames apart from VSL
The Group had a turnover of approximately £24 4 million and made a loss of £6 9 million in the year ended 2 January 2011. The Group had been suffering financial difficulties as a result of declining sales dnven by the smoking ban, changes to the gambling act and poor trading conditions.
In July 2012, KPMG was engaged by VSHL to perform a high level cash flow review of the Group Following imtual discussions 1t became clear that funding was required in the short term and as a result KPMG was engaged to commence a sales option process on 22 August 2012
Administrators' statement of proposals (2013-01-23) · Companies House register