Jobs safe as Norwich nightclub goes into administration
Kim BriscoeTwenty one jobs at a city nightclub and bar have been saved after its owners went into administration.Kim Briscoe
Twenty one jobs at a city nightclub and bar have been saved after its owners went into administration.
Chicago Rock and Love2Love, in Prince of Wales Road, will remain open after the venues were sold by the administrators to Atmosphere Bars and Clubs.
The sale came after the club's original owners, 3D Entertainment Group, fell into administration after a period of sustained losses and severe cash flow difficulties.
3DE appointed joint administrators Simon Appell, Stuart Mackellar and Scott Gaillie, of restructuring experts Zolfo Cooper, to pay off creditors.
Zolfo has now sold 31 of 3D's 50 sites, including the Chicago Rock and Love2Love outlet in Norwich and the firm's head office, to Atmosphere.
Simon Appell, of Zolfo Cooper, said: 'After a lengthy sales and marketing effort we're very pleased to be able to confirm the sale of 31 of the group's venues as this represents the best possible outcome for creditors and secures 700 jobs.
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'We are also continuing discussions around a number of other venues within the group portfolio and we're hoping to be able to reach an agreement on some of these in the coming days.'
3DE was one of the UK's leading late-night bar operators and 49pc of it was owned by Nightclub group Luminar.
It was known primarily for the popular Chicago Rock Cafe, Jumping Jaks and New York New York brands, but also operated several other venues including two Love2Love sites and a number of unbranded clubs.