Novus snaps up seven bars from Soho Clubs & Bars

18 March 2008 by
Novus snaps up seven bars from Soho Clubs & Bars

Novus Leisure, the owner of Tiger Tiger, has bought seven venues from London bar operator Soho Clubs & Bars.

The sites include Jewel in Piccadilly, Cheers in Regent Street and Village in Soho in a deal worth between £8m and £10m.

All 320 staff at the seven sites currently employed by Soho Clubs & Bars will be transferred to Novus.

According to the Press Association Soho Clubs & Bars went into administration yesterday and its three remaining sites Candy Bar, Sirocco and Revue Bar will remain in the hands of administrators Kroll.

Kroll Talbot Hughes had reviewed the business in January and was assisting Soho Clubs & Bars in its mission to find a buyer or a capital injection.

In a statement Steve Richards, chief executive of Novus, said: "We are delighted to have acquired these premium venues and believe they will help consolidate our dominant position in London's Covent Garden and West End.

"The seven venues are performing strongly and mirror our own double-digit growth in London. It is no secret that we are expanding Novus through acquisition and the additions will enable our existing customers in London to enjoy an even greater range of high-quality venues."

Soho Clubs & Bars were not available for comment.

Soho Clubs and Bars seeks buyer >>

Soho Clubs and Bars wants more sites and longer opening hours >>

By Christopher Walton

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