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Southampton Jongleurs to close
12:06pm Wednesday 21st October 2009 in News
JONGLEURS Comedy Club in Southampton is to close - despite a rescue package for the parent company, it has been revealed.
Regent Inns went into administration but chief executive John Leslie put a deal in place to rescue the firm.
However as part of the deal, the nine 'worst performing' of Regents' sites - of which Southampton's Jongleurs is one - are to close.
Regent Inns also ran the Walkabout Australian theme bar chain, although the Southampton venue in High Street closed earlier this year to be replaced by Wahoo.
Regent has been struggling from tough trading amid the recession, earlier this year reporting pre-tax losses of £2.3 million for the 26 weeks to December 27 after a subdued Christmas party season increased pressure on its Jongleurs comedy clubs.
The firm is reported to have had an £80m mountain of debt when it went into administration.
Shay Bannon, business restructuring partner at administrators BDO, said: ''A reduction in the level of disposable income as a result of the current economic climate has played a role in the group's difficulties along with a significant number of loss-making venues.''
Besides the Southampton Jongleurs, BDO is to close four Jongleurs clubs in Bow, Bristol, Nottingham and Oxford, three Walkabout sites in Bradford, Lancaster and Shaftesbury Avenue, London, as well as a Quincey's in Bristol.