Cavendish Bars in pre-pack administration
The process, handled by Duff & Phelps, is thought to have seen a handful of closed and under-performing sites left with the administrators and five venues placed with parent company, Cavendish Bars.
The venues that have been placed with the parent company are Wahoo units in Brighton, Oxford and Swindon, and the TP’s sites in Bromley and Colchester.
The sites left with the administrators are believed include EQ in Loughborough and Visa Versa, Clacton-on-Sea.
It is understood that venues held under Matterhorn Capital and Arden’s Chicago Rib Shack sites have been unaffected by the pre-pack process.
Cavendish Trading was formed in April 2008 to acquire distressed assets and purchased sites from operators, including Luminar and Regent Inns. It was formed after acquiring 26 loss-making nightclubs from Luminar, 14 of which were almost immediately placed on the market.
In February, freeholds of three venues run by Cavendish Bars for the past two years were put up for sale: Tom Peppers in Clacton-on-Sea, Vice Versa in Lough-borough, and Faith in Peterborough.
