BusinessBusiness RecoveryBuyers sought for night club group

Buyers sought for night club group

Po Na Na, the collapsed night club business, has been put up for sale by its administrators.

Link: Nightclub calls in GT administrators

Grant Thornton partners Martin Ellis, David Thurgood and Malcolm Shierson were appointed administrator to the club by a High Court 10 days ago, and they are now seeking interested buyers.

Although the administrators are keen to sell the more than 40 clubs owned by Po Na Na to one busyer, it is more likely that they will be sold off seperately or in batches.

One analyst said only between 10 and 15 of the clubs were viable business prospects, although Shierson said that takings at the clubs over the last week exceeded expectations.

It has also been reported that Po Na Na chief executive Christian Arden may buy a number of the clubs.

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

5m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

5m Emma Smith, Managing Editor