Midlands bar and nightclub for sale

A bar and nightclub company located in the Midlands is up for sale after undergoing serious problems during the festive season.

While the Christmas and New Year period is usually profitable for the entertainment sector, Mood Bars has had to call in the administrators after suffering an “unsustainable drop in revenues” over the past few months.

TJ's Bar and Bistro, Koko's nightclub and the Shakespeare Inn public house are among the business properties for sale as a result of the administration.

According to reports from the Birmingham Post, partners from restructuring specialists Zolfo Cooper have been appointed to handle the proceedings and they will keep the company in operation while the search for a buyer takes place.

Ryan Grant, one of the partners involved, told the paper: “Following our appointment, we will continue to trade the various businesses while we conduct a thorough review of the company.

“We would like to thank all staff for their continued professionalism during this process.”

He added that Mood Bars had been unable to find an alternative solution after the business found itself unable to pay creditors when they were due.