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TheCountOfNowhere

The Lights Go Out At Luminar

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http://www.northamptonchron.co.uk/news/national/300_jobs_go_as_11_nightclubs_close_1_3205174

300 jobs go as 11 nightclubs close

"Luminar, which runs Liquid, Oceana and Lava & Ignite clubs in town centres across the UK, collapsed into administration last month after lenders refused to extend a recent period of leniency on its £90 million debts"

Liquid has become anything but,

Oceana has fallen into the sea.

Lava is more Lavvy

and they have certainly Ignited the touch paper.

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There was a lot of fake growth brought forward by saddling students with debt and getting other younstgers spending freely on credit cards and other loans. The sums are getting so large now that even that trick doesn't work.

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Tried to start a new topic about this a few days ago, but as I need my posts approved by a mod (too new) I guess they havent had chance to get round to it...

Heres the full story

http://www.dailymail.co.uk/news/article-2054149/Luminar-administration-3-000-jobs-risk-nightclub-chain-sinks-weight-debts.html

I guess its a combination of low disposible income for young people, few jobs and high rents, its a shame when places like this close....used to have lots of fun clubbing when i was younger.....you can live with a few shops going bust, but its hard to revive nightlife once its gone!

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This has nothing to do with clubbers disposable income.

I spent an hour talking to the ex-marketing director of Luminar last Saturday (my boys friends dad).

He says nightclubs are dead. The licensing law change killed them.

Why pay entry fee to a club when the best hang-outs are pubs (or 'venues') that stay open till 3? These bars have DJ's, a dance floor area, and cheap drinks.

As for the disposable income argument? Nonsense. There's lots of money being spent in venue bars. And I mean lots.

Luminars cards were marked the day the licensing law changed.

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http://www.northamptonchron.co.uk/news/national/300_jobs_go_as_11_nightclubs_close_1_3205174

300 jobs go as 11 nightclubs close

"Luminar, which runs Liquid, Oceana and Lava & Ignite clubs in town centres across the UK, collapsed into administration last month after lenders refused to extend a recent period of leniency on its £90 million debts"

Liquid has become anything but,

Oceana has fallen into the sea.

Lava is more Lavvy

and they have certainly Ignited the touch paper.

Yup we need real jobs like manufacturing to sustain incomes so people can go to places like these.

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Think peeps are misquoting and misunderstand the article here.

Only 11 out of 76 that are closing, the rest are still being run and up for sale.

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This has nothing to do with clubbers disposable income.

I spent an hour talking to the ex-marketing director of Luminar last Saturday (my boys friends dad).

He says nightclubs are dead. The licensing law change killed them.

Why pay entry fee to a club when the best hang-outs are pubs (or 'venues') that stay open till 3? These bars have DJ's, a dance floor area, and cheap drinks.

As for the disposable income argument? Nonsense. There's lots of money being spent in venue bars. And I mean lots.

Luminars cards were marked the day the licensing law changed.

Yea licensing laws have taken away their monopoly granted, but as for pubs being the best hang outs its all a matter of opinion..........................although not all the clubs are closing, are they likely to find a buyer for the business??? unlikely IMO

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This has nothing to do with clubbers disposable income.

I spent an hour talking to the ex-marketing director of Luminar last Saturday (my boys friends dad).

He says nightclubs are dead. The licensing law change killed them.

Why pay entry fee to a club when the best hang-outs are pubs (or 'venues') that stay open till 3? These bars have DJ's, a dance floor area, and cheap drinks.

As for the disposable income argument? Nonsense. There's lots of money being spent in venue bars. And I mean lots.

Luminars cards were marked the day the licensing law changed.

Your rationale is too simplistic

Luminar didn’t collapse with almost 9 figure debt solely because of a licensing law. Shockingly, your friend in marketing has decided to blame external factors

Luminars city centre sites can still pull a crowd mid week, but their business contains lots of sparkley (read nasty) discos in satellite towns that are now full of unemployed people who have had their lines of credit removed

Lumiars model only works in boom times

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Your rationale is too simplistic

Luminar didn’t collapse with almost 9 figure debt solely because of a licensing law. Shockingly, your friend in marketing has decided to blame external factors

Luminars city centre sites can still pull a crowd mid week, but their business contains lots of sparkley (read nasty) discos in satellite towns that are now full of unemployed people who have had their lines of credit removed

Lumiars model only works in boom times

The 'a competitor has taken the business' is a common refrain but, as you say this is, as I think here, not necessarily the case. It's funny how directors so often jump to this conclusion rather than the fact the business has just evaporated.

I don't agree though that Luminar was a froth boom and bust outfit riding a bubble - it's been going nearly a quarter of a century.

In a lot of cases I think it's the national economy of UK Plc that's got the business model problem in reality.

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The 'a competitor has taken the business' is a common refrain but, as you say this is, as I think here, not necessarily the case. It's funny how directors so often jump to this conclusion rather than the fact the business has just evaporated.

I don't agree though that Luminar was a froth boom and bust outfit riding a bubble - it's been going nearly a quarter of a century.

In a lot of cases I think it's the national economy of UK Plc that's got the business model problem in reality.

Luminar hasn’t operated the same aggressive debt based expansion for the past 25 years. During the credit boom the firm made a number of poorly judged acquisitions which have come home to roost

There is more than a passing correlation between the “growth” of the economy and the “growth” of Luminar – both based mostly on debt

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Luminar hasn’t operated the same aggressive debt based expansion for the past 25 years. During the credit boom the firm made a number of poorly judged acquisitions which have come home to roost

There is more than a passing correlation between the “growth” of the economy and the “growth” of Luminar – both based mostly on debt

And for a while it worked, until it didn't when the bubble burst.

The banks would lend money to any business model with propeorty attached to it, almost regardless of exposure or risk. Too stupid for words.

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Your rationale is too simplistic

Luminar didn't collapse with almost 9 figure debt solely because of a licensing law. Shockingly, your friend in marketing has decided to blame external factors

Luminars city centre sites can still pull a crowd mid week, but their business contains lots of sparkley (read nasty) discos in satellite towns that are now full of unemployed people who have had their lines of credit removed

Lumiars model only works in boom times

Agreed. Couple that with Tesco selling 40 cans of beer for something stupid like £11 & the huge rise in Internet Dating and these skint youngsters are going elsewhere for cheap thrills.

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ive been out twice in the last month. there were roughly 8 women per bar vs 30x 40-50 year old desperate blokes. some had only 3 people in. it wes like arriving at a nightclub at 8.30pm. there are no people out unless its the end of the month and even then, its much much quieter.

i also noticed that gold4u dont advertise. so that tells you all the scrap gold has been sucked out of every sucker. now its all ad's for wonga dot com and on every major road lay lots and lots of cars for sale as the money supply bites hard.

Edited by right_freds_dead

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Annual report

http://www.luminar.co.uk/media/financialreports/Annual%20Report%20(Final)%20(web%20version).pdf

If you look at the share performance it seems incredible that they are still dishing bonuses out:

Simon Douglas 355,000 + 22,000 benefits + 30,000 bonus for 407,000

Philip Bowcock 173,000 + 15,000 benefits + 20,000 for 208,000

I think they only circumstance under which they don't get a bonus is..... no I cannot think of a circumstance..... oh wait.... having a pulse?

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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