Banks pull the plug on Luminar
LUMINAR, the owner of the Oceana and Liquid nightclub chains, is to go into administration after a protracted struggle to stay afloat.
The company said it had been forced into the move by Lloyds Banking Group, Royal Bank of Scotland and Barclays, which refused to extend a waiver on conditions attached to their lending.
Langton analyst Mark Brumby said Luminar “arguably had the smell of death about it for some time”.
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The shares were suspended at 0.375p.