Social cricket-themed bar chain goes into administration

Sixes, the cricket-themed social chain backed by England captain Ben Stokes, has gone into administration after a “difficult trading period”.

While all 15 of the company’s UK-based venues remain open, a branch in Southampton closed and three staff lost their jobs following the decision.

Administrators FRP Advisory said discussions were ongoing with “a range of interested parties” regarding the sale of the business and the strongest-performing sites, suggesting some further closures could also occur.

Joint administrator Tony Wright said the priority was to “achieve the best outcome for the business” while honoring customer bookings “over the Christmas period and beyond”.

Launched in 2020, Sixes is a chain that combines hospitality with cricket. It hosts parties where people face off against bowling machines and try to score as many points as possible.

It is part of a similar approach to social entertainment offered by rivals including Flight Club and Boom Battle Bar, and is partly backed by 4Cast, an investment group founded by Stokes, current and former England bowlers Jofra Archer and Stuart Broad, and former player-turned-manager Mike Turns.

Sixes went into administration last week England lose Ashes after defeat In the third test match against Australia in Adelaide.

It is unknown how large the share of 4Cast, which is injecting cash back in 2023, is in the Sixes. The BBC has contacted 4Cast for comment.

FRP Advisory said that although the business has a “core of strong-performing sites, others are struggling due to “fierce competition for experiential venues and reduced consumer spending due to economic uncertainty.”

It was stated that in addition to the closed Southampton branch, the remaining venues and franchises will remain open and all bookings will be met throughout the festive period.

The main task of management is to try to save a company.

Businesses can borrow money to pay bills when they’re losing money, but if a company can’t pay its debts or borrow more cash, a team can be brought in to take over management and handle finances; This process is known as management.

If a business cannot be saved, the company’s belongings may be sold to repay some of the money borrowed, this is called liquidation.

The hospitality industry has recently expressed concern about the high costs faced by firms, including business rates and minimum wages, arguing that this could lead to job losses and business closures.

Mr Wright said Sixes had “built a strong brand in social entertainment with unique venues that have become hugely popular with customers”.

“Whilst some locations are struggling in an increasingly competitive market, the business has significant potential and we are encouraged by the early interest we have received from parties interested in purchasing the brand and the sites with the strongest performance,” he added.

“We are confident that with the right investment and focus, the Sixes can build on their core strengths.”