K-bar chiefs to stand down

Bar operator K-bar is preparing for a new future after the departure of key figures in a major management shake-up.

Chief executive Piers Adam, who founded the company, and managing director Mark Kirkland plan to stand down from their roles.

K-bar has grown into a seven-strong London bar chain, including a Soho outlet that attracted many celebrity customers.

Adam has been focusing on a new venture to develop medium-sized nightclubs, including Rock which opened in central London this month.

It is thought that the restructuring could be preparing the business for a new strategy, which may involve it in future deals.

Marketing director Ben Elliot, who played an important part in K-bar's development, has already resigned.

Non-executive chairman Robert Lo is stepping down to become a non-executive director, replacing Neils Nooy who has resigned.

The new chairman is Glynn Manson, who has a record of launching or turning around troubled fashion, cosmetics and retail businesses.

He co-founded fashion company Fenn Wright & Manson and founded GJM, which made silk lingerie for Victoria's Secret, before selling it to Warnaco.

Other successes include perfumery and cosmetics retailer Penhaligons and Giordiano, a retailer of young men's fashions in south-east Asia.

K-bar has appointed a new general manager and an in-house promotions manager to strengthen the operations and marketing areas.

Sarah Goodfellow will continue in her role as finance director.

Last year, K-bar considered and rejected a £6.5m takeover bid from an unnamed company.