Sports Cafe is sold

Agilo, a London-based special situations fund, has acquired Sports Cafe, the troubled large-scale bar operator, for an undisclosed sum.

The company has acquired five of the eight sites that were placed into administration earlier this month, in Birmingham, Leeds, Glasgow, London and Newcastle.

Administrators Baker Tilly closed two of the remaining three bars in Manchester and Liverpool last week, with a third in Bristol still under its control.

Jason Granite, founding partner of Agilo, said: "We are delighted to have acquired the business and assets of the Sports Cafe from the administrators.​

"Sports Cafe has a unique footprint across the UK leisure market and is leading brand with a unique offering."

Sports Cafe entered into administration blaming poor trading conditions in 2007, with like-for-like sales in December reportedly down 23% on the previous year, and uncertainty over the outlook for this year.

The company had been in discussions with its bankers over an extension to its banking facilities.

However, it said it had appointed administrators following confirmation from its bankers that they could not provide such facilities at this time.