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Bournemouth’s church nightclub explains reasons for closure

Restructuring and Insolvency
6
June
2024
at

One of Bournemouth’s popular nightclubs “Halo” has revealed the reasons behind its closure in March 2024 - with the business suffering a perfect storm of cashflow problems created by Covid, the cost of living crisis, and major issues impacting the whole night-time industry.

Halo nightclub - which was operated by Triangle Bars Limited - was a popular venue inside a Grade II listed church building on Exeter Road. It began to suffer initial setbacks as a result of lockdown measures in 2020 - with social distancing requirements and restrictions on large gatherings directly impacting the revenue streams of nightclubs across the country.

Halo survived by acquiring government grants and negotiating a rent reduction, before pivoting towards a seated service model which was described as being “relatively successful”.

However, the club’s uptick in profits was halted by the cost of living and energy crisis - with the target market spending less (or nothing at all) inside the venue whilst bills and payroll costs climbed.

In March 2023, the directors sought independent advice and took the decision to cease trading. In September 2023, Leonard Curtis stepped in to assist in taking steps to place the company into voluntary liquidation.

Joint Administrator Mike Fortune stated: “Hospitality has been feeling the pinch since Covid, particularly due to economic factors leading potential customers to have less disposable income. Another challenge for the nighttime economy is the change in drinking habits for target demographics, meaning venues have been struggling to generate footfall and increase average spends.

“There will still be difficult times ahead for the hospitality industry, and we always advise business owners facing any challenge to engage with their advisors as early as possible.”

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