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Gateshead Nightclub Goes into Administration

Administration

| January 10th 2010

More News by Gillian Sayburn

The well-known western themed Tyneside nightclub and bar, Buffalo Joes, has been placed in administration.

Andrew Haslam and Gerald Krasner of Begbies Traynor were appointed as joint administrators on 26 November. Located on the banks of the River Tyne on the Gateshead side of the river, the freehold property comprises a two floor licensed outlet and dance floor.

Andrew Haslam commented: “Due to the removal of the Tuxedo Princess and the closure of Club Baja, Buffalo Joes has found itself somewhat isolated and with a reducing footfall Despite the best efforts of the directors, including a significant investment and re-branding, they have been unable to meet payments as required. Unfortunately, the directors were left with little alternative other than to seek advice.”

Mr Haslam added: “We have been successful in agreeing a licence to trade from the premises so they will remain open in the short term whilst being exposed to the marketplace, thus retaining the four full time staff and the numerous part time bar staff.”

David Lee, Director of Christie & Co’s Newcastle office which has been engaged to act in the disposal of the site, commented: “We believe that this popular nightclub and bar will be of particular interest to established local operators and entrepreneurs in the licensed sector.”


About the author

Gillian Sayburn

Director

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A Chartered Certified Accountant and Licensed Insolvency Practitioner, Gillian has been involved in business rescue recovery and insolvency since 1999.  She began her career with KPMG before joining Begbies Traynor’s head office in Manchester, moving to the Begbies Traynor Nottingham office in 2004 before returning to her native northeast to join the newly opened Newcastle office at the end of 2008.

Gillian was involved in the opening of a further northeast office in Teesside in 2010 and now spends her time between the two offices.

She is also an ACCA Northern Counties Panel member.

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