Bar group delays Nottingham investment

An arcade bar group has delayed its mooted Nottingham bar, two-and-a-half years after first floating the idea, TheBusinessDesk.com understands.

NQ64, which was founded in 2019 by Andy Haygarth and Matt Robson in Manchester’s thriving Northern Quarter, did have a Nottingham site going through legal verification, according to reports back in March.

Then, NQ64 said it expected to open its new Nottingham venue later this year, but didn’t disclose the location. Now, sources have said that any opening will be delayed until next summer at the earliest.

Last May, the company landed a £10m facility from ThinCats, with the boost adding to a £2.5m package previously provided by the Ashby lender in August 2022.

For the year to 28 February 2023, NQ64 posted a turnover of just over £13m and a profit of £1.5m.

Haygarth said: “We had a record-breaking December, a tough January, as expected, and have traded well in February and March. We’ve got sites in Leeds and Nottingham in legals and expect to open both of them this year.”