Tue, 09 Jul 2024 | MBO/MBI
The business interests of two companies described as being at the “heart of” Birmingham’s LGBTQ+ community have been acquired in a management buyout after the pair entered administration.
GB Holdings (UK) Limited and The Nightingale (UK) Limited fell into administration last month, with Glyn Mummery and Emma Priest of FRP Advisory appointed as joint administrators. The administration reportedly came after Birmingham’s nightlife sector was badly affected by COVID-19 and the cost-of-living crisis.
The two companies were subsequently liquidated, with Lawrence Barton then acquiring their business interests in an MBO. The deal sees the business interests transferred to Develop Excellence Limited, with operations to continue under the direction of Terence Runcorn and Gillian Barton.
Lawrence Barton is described as the owner of GB Holdings (UK) and was formerly a director at The Nightingale (UK) Limited. He is also Birmingham’s night-time economy adviser, a Deputy Lieutenant of the West Midlands, a West Midlands Combined Authority (WMCA) leadership commissioner and a Birmingham Southside BID board member.
GB Holdings reportedly owns The Village Inn, The Loft Bar & Kitchen, the Solihull Summer Fest, and Irish music festival the Paric Festival. The Nightingale (UK) Limited is the operating company behind the city’s well-known The Nightingale Club.
In a statement issued to TheBusinessDesk.com, a spokesperson stated: “GB Holdings and The Nightingale Ltd have gone into administration. Both companies have been liquidated, with business interests including the venues transferred to Develop Excellence Ltd as part of a rescue deal struck by Lawrence Barton, which amounts to a management buyout.”
“A review of the business to improve the offering and usage of these significant community spaces, whilst protecting over 80 jobs and securing the long-term future of the buildings as cultural assets, is ongoing.”
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