Deltic files notice of intention to appoint administrators

10 December 2020 by
Deltic files notice of intention to appoint administrators

Deltic Group has filed notice of intention to appoint administrators, although hopes remain that the group could be rescued by an acquisition.

Deltic is one of many late night businesses hit hard by coronavirus restrictions in the UK. It has been unable to operate any of its venues as nightclubs since March.

Names that have been reported as interested bidders include Scandinavia's largest nightlife group Rekom, and private equity firms Greybull Capitaland Aurelius.

Until this year, Deltic Group ran 53 clubs and late-night bars across the UK, with brands including Atik, Prysm and Oceana. The business put itself up for sale in October in a bid to stave off bankruptcy.

A cross-party group of MPs and peers have joined forces to give a stronger voice to late-night businesses in parliament. The All-Party Parliamentary Group for the Night Time Economy will work with the Night Time Industries Association, which has warned that nightclubs face "extinction from UK culture" without further intervention. It has called on the government to compensate businesses that are unable to trade.

Revolution Bars closed six sites and moved to a turnover-based rent on seven others after entering a company voluntary arrangement last month.

Photo: Shutterstock

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking