Cavendish Bars, the company led by Christian Arden, has undergone a pre-pack administration, which has seen the closure of subsidiary Cavendish Bars Trading Limited, M&C Report has learnt.
The process, which has been handled by Duff & Phelps, is thought to have seen a handful of closed and underperforming sites left with the administrators and seen five venues placed with parent company Cavendish Bars.
The venues that have been placed with parent company are the Wahoo units in Brighton, Oxford and Swindon; and the TP sites in Bromley and Colchester.
The sites left with the administrators are believed include EQ in Loughborough and Visa Versa in 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 Limited 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 the sites 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. The sites were Tom Peppers in Clacton-on-Sea, Essex; Vice Versa in Loughborough, Leicestershire; and Faith in central Peterborough.
