Thursday, 27 October 2011
Luminar goes into administration
The UK's biggest nightclub operator, Luminar, has gone into administration threatening 3000 jobs. The chain of 75 clubs which operate under the Oceana, Lava & Ignite and Liquid banners, suffered a 19% drop in revenues last year as the recession bit and its core market of 18 to 24-year-olds were hit by high levels of youth unemployment. The recent UK riots added to its woes, as did the recent death of student Nabila Nanfuka from traumatic crush asphyxiation at their Northampton Lava & Ignite nightclub. It is understood that administrator Ernst & Young will continue to run the business as a going concern while it seeks a buyer.