Bar Sport in administration
The award-winning Bar Sport chain, which runs four sites, has gone into administration with Butcher Woods after over-investment.
Bar Sport, which has sites in Rugby, Loughborough, Cannock and Walsall, called in administrators last Friday.
Founder Scott Murray said: "We are in administration, but we are not closing. It's mainly to do with our massive expansion plans.
"We probably timed it wrong with the current credit crunch. We've spent £4m over the past 18 months but it just hasn't worked out for us."
Murray added that England's failure to qualify for Euro 2008 also hit the chain hard as fans stayed at home throughout the competition.
Earlier this year Bar Sport, launched a franchise model of the brand, with 100 sites set to open within the next three to five years.
The company planned to open the first franchised Bar Sport in September, followed by six further outlets the following year.
Murray said at the time that that the franchised venues would be a scaled-down version of the existing company-owned bars, comprising around 30 high definition television screens instead of the standard 100.
