Birmingham casino collapses into administration

The owners of the Broadway Casino in Birmingham has entered into administration after struggling since the pandemic.

Sutton Coldfield-based Clockfair Limited appointed Matthew Ingram and Elizabeth Welch as joint administrators from risk and financial advisory solutions firm Kroll at the beginning of February.

The number of redundancies made has not yet been revealed by administrators, but in 2021 the average number of employees stood at 103.

Kroll said in a statement that: “The casino was forced to close its doors during the Covid 19 Pandemic, in accordance with Government guidelines, which had an immediate impact on its finances.

“Customer footfall at the casino did not return to pre-Covid Pandemic levels impacting on its working capital and ability to pay its debts.”
 
Administrators were initially bought in to identify a potential purchaser for the business and its assets through an accelerated merger and acquisition process.

Following an extensive marketing period, no offers were received to acquire the company on either an insolvent or solvent basis which resulted in the casino ceasing to trade at the end of December 2022.
 
The administrators are currently selling the available assets of the company for the benefit of creditors.