Two Manchester venues forced to close following ‘difficult trading’
Two city centre venues in Manchester – Manchester House and Artisan - have been forced to close, putting almost 140 jobs at risk, reports thebusinessdesk.com.
Both venues are on Bridge Street, and were operated by the Living Ventures Group. Manchester House employs 74 staff, while Artisan employs 65. Manchester House cost £3m to fit out when launched in 2013.
Living Ventures Group said the decision to close both venues came after a ‘period of difficult trading’. Administrators Duff & Phelps have been appointed today and will be leading the process. They will be working with employees and suppliers to limit impact and disruption.
Jeremy Roberts, chief executive of Living Ventures Group, said, “Trading at Artisan and Manchester House Bar and Restaurant has been much lower over the summer, and like many other restaurants, we have struggled with balancing rising costs and high rents, together with localised access difficulties.
“I would like to take this opportunity to thank our brilliant and hardworking teams; we are currently contacting all affected employees and looking into available roles in other parts of the group.”
The remainder of the Living Ventures Group continues to trade normally, with revenues for the full year to March 2018 at £20m.
The group will focus on successful ventures such as Australasia, Grand Pacific and new projects such as Sunset by Australasia, which has had a strong start after launching in August this year.