22 Jobs lost at Chicagos

Nightspot Chicagos wasn’t rocking this weekend, after the company went into administration.

The doors were closed as 3D entertainment group was placed in administration on Friday. 22 jobs in Braintree have been lost, which is one of 18 venues to have to shut.

David Murray, Estate Services manager for Braintree Leisure Limited and Braintree Properties, quotes “We are currently in discussions with administrators and consultants to establish the best way forward for the estate and propose to provide a further update in the next 14 days. We are able to confirm an expression of interest from a number of companies which are particularly interested in this popular location.”

Simon Appell, Stuart Mackellar and Scott Gaillie of restructuring experts Zolfo Cooper, have been appointed as joint administrators of 3D Entertainment. Zolfo Cooper said that, following a period of sustained losses, 3D Entertainment experienced severe cash flow difficulties.

The administrators had worked closely with the company in an effort to identify potential buyers before it was placed into administration. Zolfo Cooper has sold 31 of 3D entertainment sites to atmosphere bars and clubs limited, securing 700 jobs.

Mr. Appell said, “We are also continuing discussions around a number of other venues within the portfolio, and we’re hoping to be able to reach an agreement on some of these in the coming days.”

By: Ellisha and Tom.