Belfast barbecue chain Bubbacue has fallen into insolvency just months after receiving a £400,000 growth loan fund by WhiteRock Capital Partners to support its expansion.
A Creditors' Voluntary Liquidation (CVL) noticed was placed in the Belfast Telegraph last week announcing a meeting of creditors will take place on 27 July, which "may include a resolution specifying the terms on which the liquidators are to be remunerated". It also announced the appointment of Tom Keenan and Scott Murray of Keenan CF to oversee the insolvency.
The brand, which had two sites in the city, then posted on Facebook yesterday announcing the closure of both sites: "Regretfully, Bubbacue is now officially closed. We want to thank all of our amazing employees and customers for all of their support over the years. It has been a pleasure serving slow smoked barbecue to Belfast."
Around 35 members of staff are believed to have been affected.
John and Karen Blisard opened the first Bubbacue on Callender Street in 2012 and the second on Botanic Avenue in July 2017. The couple previously owned the Boojum burrito bar chain before selling it to Renatus Capital Partners, Andrew and David Maxwell for €3m (£2.7m) in 2015.