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Wed 29th May 2013 - Breaking News - 11 Atmosphere sites set to close on Friday |
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A total of 11 Atmosphere Bars sites to close this Friday if company not sold: Administrators for Atmosphere Bars and Club will close another 11 sites this Friday if the company is not bought out of administration in the meantime. The administrator has already closed three sites meaning that just ten of the original 24 sites will be open at the weekend. A deadline for expressions of interest in rescuing Atmosphere Bars and Clubs from administration passed last Friday. Administrators Deloitte say there have already been “a number” of expressions of interest for the company, based in Seebeck Place, Knowlhill. The spokesman would not confirm which 11 outlets have been selected to close, saying: “Our priority is to tell the employees first.” At the start of the administration process, the business had 75 full-time and 418 part time employees. Daniel Butters and Adrian Berry of Deloitte are joint administrators to Atmosphere Bars and Clubs. Butters said, when the company went into administration on 14 May, that “unfortunately, as a consequence of cash flow problems, the decision was taken by the directors of Atmosphere Bars and Clubs to place the company into administration.” The spokesman added that the administrators would “like a conclusion as quickly as possible” not least for the company’s remaining employees. The group posted an annual pre-tax loss of £4.1m for the year to 26 February 2012, with management blaming “unsustainable” discounting by rivals for the loss. This came after a pre-tax loss of £5.2m the year before. Two Chicago Rock Café sites in Maidstone and Warrington have already been closed by the administrator.
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