‘Profitable’ Oceana will remain open

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A statement, released by Luminar Leisure, following their administration has confirmed Oceana Milton Keynes will remain open.

The Joint Administrators for Luminar Group Holdings PLC and its subsidiaries have taken steps to close 11 loss making clubs as part of their ongoing strategic review of the business.

This exercise represents an ‘acceleration of management’s ongoing turnaround plans’ for the business and reflects a rationalisation of the loss making clubs already identified by the Group as “non-core”.

The restructured business leaves a core estate of profitable trading clubs that have attracted interest from a number of potential buyers, and Luminar PLC’s remaining portfolio of night clubs will continue to trade as a going concern as the Administrators seek a buyer for the business.

The closures will regrettably result in the redundancy of 278 full and part time employees. Employees affected by these closures will be offered appropriate support and advice throughout the redundancy process.

Alan Hudson, Joint Administrator, commented: “The core estate of clubs that were open this weekend delivered excellent trading results over what was a very busy Halloween trading period for the business.

“We would like to thank the management, employees and key suppliers who have provided their support in helping us to ensure that the business continues to trade, and provide us with the best possible opportunity to secure a sale of the business as a going concern.

“To date we have received a large number of enquires in the business as a whole and individual sites, and are actively engaged in discussions with these parties.” Clubs scheduled for closure include Tru in Brighton, Brazilia in Bury St Edmonds, Liquid in Basingstoke, Elements and Legend in Wigan, Hotshots in Hemel Hempstead, Pure and Life on Mars in High Wycombe, Lava and Ignite in Northampton, Liquid in Mansfield, Fuse in Redditch, Liquid and Diva in Sunderland and Liquid and Envy in Swindon.