Arches Retail Company Limited (SC141702): administration
- Status
- Administration ended
- Administration began
- 2015-06-18
- Incorporated
- 1992-12-11
- Location
- Renfrew
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Weak consumer demand
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 11 December 1992 in order to generate commercial income from nightclubbing events, corporate events, music events and its café/bar in order to support the parent company, Arches Theatre, in respect of its artistic
endeavours.
The Company operated from premises leased by Arches Theatre at 253 Argyle Street, Glasgow, G2 8DL and is a wholly owned subsidiary of Arches Theatre. The Arches had become known as an international event clubbing destination with club bar sales providing approximately half of the Company’s turnover. Following an incident in 2014, a number of events were cancelled. The Company collaborated closely with the police and licensing authorities reviewed its policies and procedures and robust risk mitigation measures were put in place for future events. The impact of this incident, combined with the effect of discounted meal vouchers which had become popular due to a reduction in discretionary leisure spend, resulted in an overall downturn in turnover in 2013/2014. Despite the introduction of various initiatives, the footfall for clubbing events reduced and ultimately in 2015, the Glasgow & District Licensing Board varied the license at the premises from 3.00am to midnight, thus effectively rendering the holding of nightclub events untenable. The constraints imposed on the Company resulted in the loss of significant income which negatively impacted on the
Administrators' statement of proposals (2015-08-10) · Companies House register