The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Hotel / Restaurants Accommodation And Food Service Activities Food And Beverage Service Activities 56.3 - Beverage serving activities
125 jobs Number of planned job losses
Announcement Date
31 October 2018
Employment effect (start)
Foreseen end date
30 October 2018
Description
Mad, an entertainment group based in Manchester, has reportedly shut eight of its venues as it enters liquidation. The move has resulted in the immediate loss of 125 jobs. The businesses closed on Tuesday, 30 of October 2018, apparently without any warning. Staff were informed by email or in person that their jobs would be terminated. According to reports, the businesses may be attractive to investors and a rescue deal may emerge in the future, but as of November 2018 no firm offers are understood to have been made.
Sources
Citation
Eurofound (2018), Mad , Bankruptcy in United Kingdom, factsheet number 95939, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/95939.
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