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Hospitality industry

Bistro Live Live Music Venue Saved from Administration After Sale to New Owners

Strategic Insights

— 1 min read

A popular live music and party venue, Bistro Live, has been saved from administration after new owners FM Hospitality Limited purchased the business. The move is expected to save over 100 jobs across three sites in Leicester, Nottingham, and Milton Keynes. Despite government support and cost-saving measures, the business accumulated substantial debt during the pandemic, which persisted even after a successful rebuild in recent years. A quieter summer due to cost of living pressures eventually led to the business running out of cash.

Key Takeaways:

  • Bistro Live Limited, a live music and party venue, entered administration due to substantial debt accrued during the pandemic.
  • The firm appointed administrators from FRP Advisory Trading on October 17, who secured a sale of the business to FM Hospitality Limited through an "accelerated sale process".
  • The sale is expected to save over 100 jobs across Bistro Live's three sites in Leicester, Nottingham, and Milton Keynes.
  • The business was significantly affected by the pandemic, despite government support and cost-saving measures, resulting in accumulated debt.
  • The debt persisted even after a successful rebuild in recent years, until the business eventually ran out of cash due to a quieter summer blamed on cost of living pressures.
  • Joint administrator and partner at FRP, John Lowe, stated that many businesses are still struggling with legacy debt from coronavirus and wider economic pressures.
  • New owner FM Hospitality Limited plans to host many more years of amazing festive parties and maintain business as usual.

Statistics:

  • Over 100 jobs are expected to be saved across Bistro Live's three sites in Leicester, Nottingham, and Milton Keynes.
  • Bistro Live has been operating in Charles Street for 20 years.
  • The business was significantly affected by the pandemic, with substantial debt accumulated during that period.
  • Despite government support and cost-saving measures, the debt persisted even after a successful rebuild in recent years.

Sources:

  • Press release from Bistro Live Limited, citing a spokesman for the site.
  • Statement from joint administrator and partner at FRP, John Lowe.
  • Quote from Fred Harlow, of FM Hospitality Limited.

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