Luminar Group sells 26 bars to Cavendish

Source/Contact: Caterer Search, 17/04/2008

 Late-night club and bar operator Luminar Group has sold 26 bars for 19p each to Cavendish Bars trimming down its total estate to 90 sites.  Cavendish, a new operator headed up by the former chief executive of bar chain Po Na Na, Christian Arden, will buy the leasehold clubs and bars as a collection of five individual companies, worth ₤1 each.  Luminar said it will also pay Cavendish ₤800,000 to take on the leases and make a near ₤10m loss on the deal.  The disposal removes Luminar from any liabilities on sites it previously sold to Candu Entertainment Group, which entered administration last month.