Fuel Juice Bars, the Kings Park Capital-backed business, has appointed administrators, with the closure of a number of stores, MCA understands.
RSM have been appointed administrators for Fuel Juice Bars (England & Wales) Ltd, with as many nine stores believed to have been closed in the past week, including Derby and Gateshead. Fuel Juice Bars Ltd is unaffected by the move and is believed to have taken on some of the sites from its sister company.
RSM confirmed to MCA that it had been asked to look at the business following concerns about a slowdown in footfall at some shopping centres.
Former chief executive Chris Sullivan left the then 25-strong business earlier this year, with founder Jamie Weston and James Tillman of Kings Park Capital the remaining listed directors.
Weston, who founded the business in Reading in 2005, but has not been involved in day to day operations for some time, is also listed as director of a separate limited company Fuel Juice Bars, registered in Glasgow.