Bournemouth: Future 3000 in administration
Lee Manning and Nick Edwards of Deloitte have been appointed Joint Administrators to Future 3000 plc. The company entered administration on July 22.
Future 3000 plc manages and operates eight licensed premises in Bournemouth and Poole, including:
5 bars with capacity ranging from 740 – 950
2 nightclubs with capacity ranging from 240 – 1,100
1 restaurant with capacity of 248
The majority of properties are located in Bournemouth with the exception of two bars in Poole town centre and all are held on long term commercial leases with a minimum remaining lease term of 17 years.
The business has 31 full-time employees and turnover for the business in 2008 is forecast to be circa £9 million, with net operating profits from the operating units in the region of £1.5m.
Lee Manning, partner in Deloitte’s Reorganisation Services practice, said: "We are continuing to trade the business as a going concern whilst seeking a buyer. The venues occupy prominent positions and are each themed and designed to attract a different market sector."
