Clockfair Limited – administration

Clockfair Limited, which owns Birmingham-based Broadway Casino, entered administration on 1 February. Joint Administrators Matthew Ingram and Elizabeth Welch of Kroll Advisory said that the casino was forced to close its doors during the Covid-19 pandemic, which had an immediate impact on its finances. Customer footfall at the casino did not return to pre-Covid levels, further impacting the company’s working capital and ability to pay its debts. Following an extensive marketing period, no solvent or insolvent offers to purchase the company were received. The Joint Administrators are currently realising the company’s assets for the benefit of creditors. Aib Group (UK) PLC has three registered charges against the company.