Sun-backed Atmosphere goes into administration

Daniel Butters and Adrian Berry of Deloitte were appointed as joint administrators to Atmosphere on Tuesday. The firm cited cash flow problems as the main reason behind the company's troubles.

Atmosphere will keep trading and all venues will remain open while Deloitte aims to arrange a sale as a going concern.

Sun European Partners acquired certain assets of 3D Entertainment Group Ltd, a UK-based operator of late night bars, in a pre-packaged administration deal in 2010. The new group was renamed Atmosphere Bars and Clubs Ltd.

Company
Atmosphere Bars and Clubs manages a portfolio of 24 licensed venues across England and Wales, including 19 Chicago's Bars, three Modello bars and two nightclubs. The business is headquartered in Milton Keynes and has 75 full-time and 418 part-time employees.

People
Daniel Butters and Adrian Berry will handle the administration process for Deloitte.

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• Topics
• Exits
• Consumer
• UK / Ireland
• Sun European Partners