Artisan and Manchester House Bar and Restaurant have been put into administration today by the owners of the Living Ventures Group.
In a statement released this afternoon, the group said that:
“After a period of difficult trading Living Ventures Group has taken the decision to put both Artisan and Manchester House Bar and Restaurant into administration. Administrators Duff & Phelps were appointed today and will be leading the process.
Only Artisan and Manchester House Bar and Restaurant from the Living Ventures portfolio have entered administration, having suffered under difficult trading effecting the sector. The Administrators and Management will be working with employees and suppliers to limit impact and disruption.”
Jeremy Roberts, CEO of Living Ventures Group, said, “Trading at Artisan and Manchester House Bar and Restaurant has been much lower over the summer, and like many other restaurants, we have struggled with balancing rising costs and high rents, together with localised access difficulties. I would like to take this opportunity to thank our brilliant and hardworking teams; we are currently contacting all affected employees and looking into available roles in other parts of the Group.”
The remainder of the Living Ventures Group continues to trade normally, with revenues for the Full Year to March 2018 at c.£20m. The Group will focus on successful ventures such as Australasia, Grand Pacific and new projects such as Sunset by Australasia, which has had a strong start after launching in August this year.
Individuals with reservations at Artisan and Manchester House Bar and Restaurant will be contacted and offered alternative options at one of the other restaurants in the Group. Gift cards issued by Artisan or Manchester House Bar and Restaurant will be redeemable at Australasia Restaurant until March 31st, 2019.
Manchester House opened to much fanfare in 2013, headed by chef Aiden Byrne and was tipped to receive Michelin stars.Byrne left last year and his protegee Nathaniel Tofan took over