Administrators tackle stricken football arena and sports bar sale

A Lincoln firm which ran a community sports arena and bar has collapsed into administration.

Active Arena CIC has appointed Mark Hopkins and Ian Rose of FTS Recovery as joint administrators following the closure of its venue at the beginning of the month.

The company, which has operated the facility since 2019, was forced to cease trading on October 10 when “severe” cashflow shortages resulted in the disconnection of the Arena’s electricity supply.

Administrators say the company’s profit margin had been seriously depleted by rising energy prices and other cost increases associated with the cost-of-living crisis. With the company’s cashflow already stretched by Covid, this ultimately made it impossible to continue trading.

FTS Recovery is now seeking a buyer for the company and its assets, with a view to its continued trading as a going concern at their current premises. The sale will be managed by FTS Recovery’s appointed agents, Eddisons.

Hopkins said: “The closure of the Active Arena site will be a blow to the local community who have welcomed the award-winning facility as a fun and safe place to socialise and become active. We are eager to arrange a sale that will allow the company to return to serving its loyal customers as quickly as possible.

“The Arena is an excellent opportunity for the right buyer to build on what is already an integral part of the community with a strong customer-base and brand recognition.”