All jobs lost at sporting events firm after pandemic-related delays

Two Worcester-based sporting events companies have fallen into administration after encountering cash flow issues thanks to global event delays caused by the Covid pandemic.

All jobs were lost at Cube Management and Cube Modular prior to administrators from Leonard Curtis being appointed just before Christmas. It comes after Cube gave a notice of intention to appoint administrators in November.

The firms, part of the Cube International Group, provided bespoke modular infrastructure for sports industry events, including fan zones, pop-up retail stores, ticket offices, temporary office space and other accommodation. In a statement of affairs from Worcester Warriors Women, the group is owed almost £155k from the club.

60 staff were employed by the group in 2022 when it reported a loss of £432k. It had previously seen profits of £752k in 2021.

Clients and partners include major names such as The Open, Saracens, RedBull, Umbro, Crystal Palace FC, Silverstone, England RFU, Live Nation, Lord’s and Chelsea Flower Show.

A structured sales process was initiated by administrators to identify any parties interested in acquiring the group or the business and assets and whilst considerable interest was generated, a sale has not been possible.

Administrators Joph Young and Conrad Beighton are now focused on the realisation of assets following their appointment.