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Living Ventures' Blackhouse and Olive restaurant brands in administration

18 June 2020 by
Living Ventures' Blackhouse and Olive restaurant brands in administration

Living Ventures' Blackhouse and Newgate Restaurants has appointed administrators, which includes the group's Blackhouse Grill restaurants in Leeds, Glasgow and Manchester and Olive restaurant in Liverpool.

Administrators Duff & Phelps were appointed today to both companies and will be leading the process.

The Blackhouse business was due to exit a Company Voluntary Arrangement (CVA) process it had agreed with creditors in March this year, but was prevented from doing so by the coronavirus crisis and enforced closure of the restaurants in March.

Scott Grimbleby, managing director of the businesses, said: "We have explored every avenue possible to try to save the business, however we have been left with no choice but to take this incredibly difficult decision now. We are working with all our teams to try and support them as best we can through this time. The administrators will be seeking to find a buyer for the businesses."

The Blackhouse steakhouse brand recorded post-tax losses of £1.3m in the year to 30 March 2018, followed by a CVA which saw the closure of four sites. Later that year its Manchester restaurants Artisan and Manchester House were both placed into administration following a "period of difficult trading".

After a deal with private investors, former Manchester House chef-proprietor Aiden Byrne returned to relaunch the restaurant, however the site closed for good just over a year later.

Living Ventures' Australasia, Sunset and Grand Pacific brands are understood to be unaffected.

Aiden Byrne's Restaurant MCR closed for final time >>

Living Ventures' brand Blackhouse recorded post-tax loss of £1.3m before CVA >>

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