Atmosphere Bars and Clubs placed in adminstration

Chicago'sAtmosphere Bars and Clubs (ABC), which operates venues such as Chicago’s across England and Wales, has gone into administration because of cash-flow problems.

Daniel Butters and Adrian Berry of business advisory firm Deloitte have been appointed joint administrators to find buyers for the business as a going concern.

ABC, based in Milton Keynes, employs nearly 500 people across 24 sites including 19 Chicago’s (pictured), three Modello bars and two nightclubs.

Butters said: “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. We are continuing to trade the business and all venues remain open whilst seeking a sale as a going concern.”

In the year to February 26 2012, ABC reported an annual pre-tax loss of £4.1million, blamed on “unsustainable” discounting by competitors. It followed a pre-tax loss of £5.2million the previous year.

Last month, the Fat Cat Group was placed in administration, blaming January’s snow and freezing conditions for causing cash-flow problems, while Northern Ireland’s Botanic Inns went into administration last week.

Previous Funkin seeks bartender to be Innovation Champion
Next Manchester bartender wins first Disaronno heat