BusinessBusiness RecoverySoho strip club goes belly up

Soho strip club goes belly up

Soho's first ever nude strip club, the Raymond Revuebar, has called in administrators from Menzies Corporate Restructuring following the ongoing deterioration of its financial situation.

Link: No more wild nights at the Marquee Club

MCR partners Jason Godefroy and Paul Clark were appointed joint administrators to Sitor Enterprises Limited, the trading name of Raymond Revuebar.

They were appointed by the company’s managing director Gerard Simi using the new streamline process available under the new Enterprise Act, thus preventing any creditor from taking any enforcement action against the company.

Godefroy and Clark will now review the business, which cited 9/11, the SARS virus and ‘Bird Flu’ as the reason for a downturn in client admissions.

Godefroy commented, ‘We are currently reviewing the company’s financial position and business operations whilst we consider the options available to the Company. During this period however it’s very much “business as usual” for clientele, staff and suppliers to the Raymond Revuebar.’

He continued, ‘The company has in the past considered a possible sale of its business and this is an option that we may also seek to explore further.’

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