Luminar saved in £45 million deal

12/12/2011 13:41:24

Around 3,000 jobs for bar staff and other hospitality workers look likely to be safeguarded through plans to save British nightclub operator Luminar.

The company, which comprised famous nightclub brands such as Oceana and Liquid, went into administration in October with debts of £140 million, including £80 million owed to banks.

However, three leisure and hospitality industry experts bought the company last week. Joe Heanen, Peter Marks and Alex Geffert could create new jobs by revitalising many of the company's venues over the next two years.

Mr Marks, a former executive of the company and Northern Leisure, said Luminar had a "solid core business" but had struggled to cope with the recessionary downturn in trade.

"Luminar has a lot of good people and with hard work, the right financial structure and an investment programme the company can look forward to a great future," he added.

The owner of Luminar's flagship Lava & Ignite property in Preston could attempt to develop the nightclub site into a department store, according to the Lancashire Evening Post.

Posted by Ed Warle

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