Ernst & Young (E&Y) has been confirmed as administrator to nightclubs group Luminar. The company said that Alan Bloom, Alan Hudson and Tomislav Lukic of E&Y were appointed as joint administrators. They will shortly make an application to delist the company's shares, which will remain suspended until that time. The appointment of the administrators come as reports suggest that Schroders, the fund manager, has lost almost £50m on its near 30% holding in the troubled nightclub operator. The Times reports that HM Revenue & Customs will be another loser from the collapse as the appointment will cancel its claim for £42.8m in unpaid taxes. The Oceana and Liquid nightclub brand operator was placed in administration earlier this week after its banks withdrew support. Luminar breached its banking covenants in August. Its shares were suspended after it became clear that the banks had pulled the plug. E&Y are set to oversee the sale of the whole or parts of the business before the end of the year. Suitors for parts of the business are expected to include Atmosphere Bars & Clubs, the Sun Capital Partners-backed nightclub operator, which was formed from the lion's share of 3D Entertainment; Matterhorn Capital; R Capital, owner of Little Chef and a number of night clubs; and Luminar founder Steve Thomas, through his new vehicle, No Saints.