A liquidator has been appointed to a popular Southport Bar & Eatery that has ceased trading.
Stuart Kelly, of insolvency practice HBG Corporate Ltd, has been appointed liquidator of Orchardhall Ltd, trading as Eighty-Eight Bar & Brasserie. 25 employees have been made redundant as a consequence.
As a result of a significant fall in trade and a high level of fixed costs, Bar Eighty-Eight ceased trading on 8 January 2018.
Mr Kelly of HBG Corporate said: “Bar Eighty-Eight is a very well-known bar in the heart of Southport town centre. It is a bar that has been extremely popular over the years with locals and tourists alike. It is very sad news that the bar has now been forced to closed due primarily to a material fall in trade.
The board of directors of the company have considered its financial position and have now concluded it is insolvent. It was wound up and placed into creditors’ voluntary liquidation on 16th January 2018.”