Fast-expanding sports bar chain looks to have been crunch victim; LEISURE.
Cannock-based Bar Sport is thought to have been a victim of the credit crunch after trying to expand too quickly.
The company, founded by former boxer Scott Murray, has four sites in the Midlands - Cannock, Walsall, Rugby and Loughborough.
Despite its situation, the business is thought to be operating as normal while the administrators look to salvage what they can. The original bar opened in Cannock's High Green in 1998 and Mr Murray had made no secret of his plans to advance the business.
He followed up the Cannock bar with Walsall and then Rugby before opening the Loughborough site earlier this year.
Only two months ago Mr Murray said he had identified 160 locations suitable for his company's new franchise offer, while there were plans to expand the business abroad into locations such as Gibraltar and Cyprus. The four bars were said to have an average turnover of at least pounds 1 million.
|Printer friendly Cite/link Email Feedback|
|Publication:||The Birmingham Post (England)|
|Date:||Jul 29, 2008|
|Previous Article:||Arable land value is soaring; AGRICULTURE.|
|Next Article:||Have hapless banks found another way to lose billions-commodities.|