Entrepreneurs snap up nightclub business after administration
NIGHTCLUB operator G4 Leisure has been bought by a father-and-son team of entrepreneurs, featured on the Sunday Times Rich List.
Martin and Jason Brook’s vehicle Brook Leisure have acquired the business after it went into administration.
Howard Smith and David Standish of KPMG were appointed as joint administrators to G4 Leisure Holdings Limited on 5 February 2016.
G4, a Barnsley-based business, provides management services to three subsidiaries which operate five nightclubs in Yorkshire, including Coco, CHE and Graffiti on Silver Street in Doncaster, CHE & Coco in Barnsley and Crystal in Sheffield.
G4 experienced “challenging” post-Christmas trading and was unable to continue as a going concern.
All four employees, including its sole director John Martin Brook, were transferred to the acquiring company.
Administrators said that the subsidiaries were not included in the deal and it would be “business as usual” for the companies, which include G4 Casinos and Trysdon Ltd.
In the latest available accounts for the holding company, for the year to 30 April 2014, turnover was down to £5.7m from £6.2m the year before.
It did make a £12,482 profit that year, an improvement on the £1.8m pre-tax losses the year before.
At that time, the company said it was suffering from a lack of investment and was struggling to attract the same footfall and turnover.
