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Owners of Oceana and The Hippodrome go bust

Luminar, the owner of Kingston’s Oceana and Hippodrome nightclubs, has gone into administration putting 2,700 jobs at risk across the UK.<--break->“></p> <p>Oceana and The Hippodrome, who together employ 120 people, will continue to trade while the administrators, Ernst and Young, look for buyers.</p> <p>Steven Lynn, head of marketing at Luminar, said: “We have suffered in the economic downturn, without a doubt.” But he was upbeat about Kingston’s nightclubs: “Oceana is one of the busiest nightclubs in the UK, it definitely has a future”. </p> <p>Any closures could severely damage Kingston’s entertainment economy.</p> <p>Luminar had been struggling in the economic downturn, making a loss of nearly £200m  in the year ending February 2011. So when one of their three creditors – Barclays, RBS and Lloyds – refused to give them an extension on their debt it was the final nail in Luminar’s coffin.</p> <p>The company’s annual report blames the “economic climate, high levels of youth unemployment and lower disposable incomes” together with a “competitive market and adverse weather conditions during peak trading periods” as contributing to their problems.</p> <p>Luminar ran the Lava & Ignite club in Northampton where 22-year-old student Nabila Nanfuka was killed in a crush earlier this month. Another clubber, 19-year-old Laurene-Danielle Jackson died in hospital yesterday as a result of her injuries. Its licence has been suspended while police investigate the incident. </p> <p>Luminar is Britain’s biggest nightclub-owner, running 76 clubs nationwide including the Liquid; Project; Fuzzy Logic; Love Social and Vibe nightclub brands as well as smaller bars throughout the UK.</p> <!-- MOLONGUI AUTHORSHIP PLUGIN 4.7.10 --> <!-- https://www.molongui.com/authorship/ --> <div class=

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