Almost 50{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} of UK’s nightclubs have closed down in the last 10 years, according to figures seen by Newsbeat.
The Association of Licensed Multiple Retailers (ALMR), says there were 3,144 clubs in 2005 and this has since fallen to 1,733.
It defines a club as a place meant for “late night entertainment, usually music and dancing”.
Source: BBC Business
Like many other businesses, nightclubs are facing a changing market, with perhaps younger people possessing less disposable income. Businesses in financial difficulty are encouraged to obtain professional advice early, in order to maximise the prospect of recovery. Options may include restructuring, new finance or alternatively a formal insolvency process such as Administration, Voluntary Liquidation or Liquidation.