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Novus completes Balls Brothers deal
Novus Leisure has acquired 17 sites from Balls Brothers and Lewis & Clarke, of the 19 which had been under administration since November 2010.
The largest private bar and club operator in the UK, Novus is estimated to have paid in excess of £7.8 million for the venues, which are all in London. It now plans to “contemporise” the Balls Brothers brand through a programme of refurbishment and a “modernised” food and drink offer.
Six of the sites are Lewis & Clarke bars, while the remaining 11 trade under the Balls Brothers brand.
Commenting on the acquisition, Steve Richards, CEO of Novus, said: “These sites play to our strengths and we see significant potential to leverage our sales and marketing expertise to Balls Brothers customers whilst contemporising the offer of this heritage brand.”
Nick Cropper, partner at the firms’ administrators Zolfo Cooper, said of the sale: “The joint administrators are delighted with the sale of Balls Brothers Limited and Lewis & Clarke Limited, as it represents an excellent result for the companies’ creditors and preserves the employment of 300 employees in the City and West End of London."
Gabriel Savage, 15.03.2011