Tue, 29 Jan 2013 | ADMINISTRATION
Discussion is mounting about Yellowhammer Bars' future after one of its subsidiaries appointed administrators.
Patrick Ellward and Dilip Dattani of RSM Tenon are due to be appointed to handle the administration of Yellowhammer Trading Ltd. It is thought that the group is a trading entity for the group but does not hold any specific venues itself.
Reports from M&C confirmed that the notice to appoint administrators was filed on 16 January and read: “The chairman reported that, in view of ongoing financial difficulties, the company has consulted with RSM Tenon to take advice in connection with the financial position of the company and the options available.
“The company is experiencing financial difficulties and is insolvent as defined in the Insolvency Act 1986.”
The news comes after a number of Yellowhammer Bars' venues were closed. Bliss nightclub, located in the centre of Taunton, is one of the latest to shut its doors, although its management said that they were unaware of what direction the club's future would take.
A message on the company's website says that Bliss is “temporarily closed” but gives no further information, leaving the space open for speculation.
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