Vimac Group, the Newcastle-based multi-site operator, has been placed in administration with Begbies Traynor, according to a notice published yesterday at Companies House.
The group previously operated nightclubs and a selection of other venues but M&C Report has learnt that at the time of being placed in administration (16 December) its sole trading unit was the Crab & Lobster hotel and restaurant in Thirsk, North Yorkshire.
It also had a few other freehold properties that are expected to be put up for sale at a later date.
Creditors for the business have already been paid, said a Begbies spokeswoman.
The group had operated in three areas: the late night market, largely through its Studio concept; restaurants, through the Crab and Lobster and Trenchers brands; and short-break accommodation through Crab Manor.
In 2011, Vimac decided to refocus on the restaurant and short break accommodation sectors and seek to exit the entertaining, dancing and drinking sector. In November last year Vimac closed its Studio-Loft nightclub in Kendal and placed it on the market.
At its most recently published results, for the year to 31 March 2012, the company reported a narrowing of pre-tax losses from £4.1m to £2.7m on turnover down 13.3% to £5.9m.
