Leading Cardiff bar operator in administration

10 Feet TallBuyers are being sought for some of Cardiff’s best-known bars and venues after leading operator Beatbox Bars went into administration citing financial difficulties.

Administrators from insolvency practitioners SFP continue to trade the bars 10 Feet Tall (pictured) and Buffalo while marketing them for potential purchasers.

SFP had to close one of the venues, Fire island, but is in talks with a number of interested parties to re-open it under new management soon.

Beatbox Bars acquired the leases for the three bars between 2005 and 2009. However, SFP said that a major downturn in trade over the winter of 2012/13 put severe pressure on cashflow and led them into difficulties.

The company had previously reported annual turnover of about £1.5million and employed 70 staff.

SFP’s Simon and Daniel Plant – both licensed members of the Insolvency Practitioners’ Association – were appointed joint administrators by Beatbox Bars’ directors on July 22.

Daniel Plant said he believed that 10 Feet Tall and Buffalo represented “an excellent opportunity” for a potential purchaser, especially one with industry knowledge and local connections.

“We are actively looking with the intention to sell the business and its assets as a going concern and are already in discussions with a number of potential buyers,” he added.

Beatbox Bars was run by a group of friends who came together after working their way up in the licensed trade. Daniel Biscombe, Nathan Vaughan, Ian Dakin, Claire Biscombe and Alex Power opened Buffalo in 2005 and then 10 Feet Tall in 2008.

Both were noted for their cocktails and interior design, especially 10 Feet Tall which won awards for its designer, Lee Broom.

They opened the high-end American-inspired late-night venue Fire Island, offering live music, in Cardiff’s Castle Quarter last year.

All initial enquiries concerning the business are being handled on behalf of the administrators by their agent Winterhill Asset.

Previous Spirits and liqueurs named IWSC winners
Next Expansion plan for London bar operator