Leeds-based bar company Burning Night has entered administration following the closure of its Bierkeller Entertainment Complex in Cardiff.
The parent business has been placed into the hands of joint administrators Andrew Mackenzie and Julian Pitts of Begbies Traynor.
Burning Night was established eight years ago and had grown to comprise six themed bar and restaurant sites. But, the company's venue in Cardiff's Millennium Stadium had proved to be financially unviable.
Five other subsidiary Bierkeller Entertainment Complexes in in Leeds, Liverpool, Manchester, Birmingham and Nottingham continue to trade as normal having experienced growth over the last financial year, with a buyer being sought.
The company employs more than 500 staff nationwide and had annual revenue in excess of £25m in 2017/2018.
Joint administrator Andrew Mackenzie (pictured) said: "It is important to stress that the companies which own the Bierkeller leases are not in administration and we are working closely with management and lenders to continue to trade these prime assets to their full. We are currently seeking a buyer for the venues in order to bring about the best outcome for the company's creditors, staff and customers."
Andrew Mackenzie and Julian Pitts have also been appointed as joint administrators of Cornertrack Limited, a wholly owned subsidiary of Burning Night, which supplied beer to the venues.