Living Ventures puts two Manchester restaurants into administration
Living Ventures has called in administrators at Artisan and the Manchester House Bar & Restaurant after the company said it had “struggled with balancing rising costs and high rents”.
Administrators at Duff & Phelps have been appointed at Manchester House on Bridge Street, on the edge of Spinningfields, and at Artisan, just around the corner within Spinningfields.
Manchester House set out its stall as a high-end dining venue, while Artisan was more focussed on casual dining.
The rest of the Living Ventures Group, which counts venues Australasia and Grand Pacific in its portfolio, continues to trade as normal and is expected to report a revenue of around £20m for the year to 31 March 2018.
Jeremy Roberts, chief executive 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 administrators said any with a reservation at either restaurant will be contacted and offered alternative bookings at one of Living Ventures’ other sites. Any gift cards for either restaurant will be redeemable at Australasia until 31 March 2019.
The casual dining sector has seen a major overhaul this year, with Jamie’s Italian, Prezzo, and Byron among those urgently putting into action branch closure plans in a bid to stay afloat. Earlier this year, Cau and Gaucho’s parent company also entered administration.
Sign of the times.
By Prince
What, that overpriced restaurants that didn’t change their offer quickly enough to keep up with the wider food/drink scene haven’t been turning a profit?
By Foodie
Every bar in Spinningfields feels the same.The area needs more independents, a beer bar, a wine bar. Fazenda and Iberica are the only places worth going to. The Ivy will only make things worse round there.
By York Street
Gaucho in Manchester is still open…
By Anonymous
Living Ventures has been the core too Spinning-fields and the area built up around it is due to the Legend Tim Bacon and the company..don’t hate, be sad for the staff members effected and move on from it. Most of you in hospitality have worked for this company so don’t shy away from the great qualities you learnt. its a sad day for the LV family have some respect!
By Hannah
The irony is that Living Ventures started out creating restaurants that were different from the same old same old. Now you can tell a LV restauarant a mile off regardless of what name they have chosen for it…..
By A Developer
To the above like who? Please name me the 7 restaurants in Manchester that are LV and more And please tell me how do you know? The fact you are a 400?
By Anonymous
I’m not sure why this has come as a shock. Manchester House I don’t think I’ve heard anyone talk about in months, yes the food offer was good but expensive for Manchester. Factor in the huge fit out costs, rates, service charge at Tower 12 along with the fact you still felt like you were entering an office it was sadly set to fail. I’ll be amazed if the Ivy lasts too.
By Dan
I went once to MH. Worst customer service I have experienced at any Manchester bar or restaurant. Never went back. I for one, won’t miss it.
The restaurant group as a concept is nearing the end. More authenticity, less formulaic eateries.
By Zoro
Manchester has a lot of these ‘blingy’ places. Bars that are shiny and marble where drinks are expensive and everybody has to look the part. There’s no music or dancing people just looking each other up and down showing off the cash, the tan and the teeth, biceps are mandatory. We have more of these places than Liverpool and Leeds combined and they dominate the big units. Even Londoners take themselves less seriously. It’s even creeping into the Northern Quarter, where’s the fun gone?
By Kent
Also, Finca had a pop up at Artisan, totally the wrong place for them, aswell as Liverpool I’d like to see them come back to somewhere like Hatch or the NQ.
By Kent
It’s a bad time for Manchester city centre restaurants. It’s all about the suburbs now, people from the affluent areas have bars and restaurants on their doorstep so don’t feel the need to head into town.
By BenG