Tony Wright and Alastair Massey, partners at FRP Advisory, were appointed joint administrators for the business on 17 December.
The group’s site in Southampton has closed with immediate effect leaving Sixes with 16 locations in the UK and a single international site in the West Indies, all of which continue to trade.
Strong brand
FRP Advisory says it is continuing to trade the business through the administration and is currently in discussions with ‘a number of interested parties’ about a sale.
The group has a core of ‘strongly performing sites’, but others have ‘struggled’ in the face of fierce competition and reduced consumer spending.
“Sixes has built a strong brand in the social entertainment space with its unique venues proving very popular with customers,” says Wright.
“While some locations have struggled in an increasingly competitive market, the business has significant potential, and we’re encouraged by the early interest we’ve received from parties interested in acquiring the brand and its strongest-performing sites.
Best outcome
“Our priority is to secure the best outcome for the business and its stakeholders while ensuring customers can continue to enjoy their bookings through the Christmas period and beyond.
“We’re confident that with the right investment and focus, Sixes can build on its core strengths.”
Sixes was launched by Mac and Wild founders Andy Waugh and Calum Mackinnon in 2020.
In 2023, the business secured funding from 4Cast Investment Group, a UK-based venture capital firm co-founded by England cricket stars Stokes, Jofra Archer and Stuart Broad.
- This story originally appeared in The Morning Advertiser’s sister publication MCA here.
