Summary
Sixes, a chain of bars themed around cricket and partly backed by England cricket captain Ben Stokes, has entered administration due to financial difficulties. While most of its locations remain open, one branch has closed, and administrators are looking for buyers for the company. The administration process is a way to help the struggling business manage debts and potentially find new investors.
Key Facts
- Sixes is a cricket-themed bar chain that began in 2020.
- The chain has 15 venues in the UK, but one in Southampton has closed, affecting three jobs.
- Administrators from FRP Advisory are seeking buyers for the business or its best-performing locations.
- The administration process aims to keep the company running and pay off debts.
- Sixes combines hospitality with cricket games, part of a trend in social entertainment.
- The chain is supported by 4Cast, a group involving sports figures like Ben Stokes, Jofra Archer, and Stuart Broad.
- Competition in the entertainment venue market and economic difficulties have impacted Sixes' performance.
- The administrators aim to maintain operations through the busy Christmas period while exploring potential sales.
