Bar and restaurant firm Tiggi’s in adminstration

A SMALL North West bar and restaurant company has been placed in administration.

Lancashire-based Tiggi’s Holdings and its operation subsidiaries Tiggi’s (St Annes) and Tiggi’s (Bolton) has been hit by a slump in spending.

Paul Dumbell and Brian Green from KPMG Restructuring in Manchester have been appointed joint administrators and are trying to sell the business, which employs 79 people, as a going concern.

The firm operates the ‘Tiggi’s’ branded Italian restaurants in St Annes and Bolton, along with the ‘21T’ bar and restaurant and the ‘Bliss’ night club in St Annes.

Paul Dumbell, joint administrator and director at KPMG Restructuring, commented, “It’s no secret that the recession has eaten away at the UK hospitality sector, with many restaurants having to contend both with a reduction in corporate entertaining and a squeeze on consumer disposable income.

“For Tiggi’s in particular, the economic downturn resulted in a fall in customer numbers and also lower spend per head.”

He continued, “We will continue to trade all of the establishments under license of the management while we seek a buyer for the business and assets.”