THE company which owns a Burnley nightclub has gone into administration.
Luminar Group Holdings PLC, owner of Lava Ignite, in Hammerton Street, said it was unable to pay its debts to banks. The firm, which has 75 venues and employs 3,000 people nationwide, recorded losses of £198m. in the year to the end of February as sales dropped by 19% to £137m..
A statement on Luminar’s website said: “The directors have no option but to take steps to place the company and certain of its subsidiaries into administration and to request the UKLA suspend trading in Luminar’s shares with immediate effect.”
It is not known whether administrators will continue to run the clubs and keep staff.
Managers at the Burnley club were unavailable for comment yesterday.