Karaoke chain enters administration, three venues to close

Summarised from 2 outlets · Updated 6 Oct, 15:01 · Archive

A UK karaoke chain has entered administration and will close three venues despite being rescued by Swedish firm Moyagi Group.

A UK karaoke chain hired administrators on Tuesday before being rescued through a pre-pack acquisition by Swedish karaoke bar firm Moyagi Group. The deal allows the business to continue operating, though the restructuring will result in the closure of three venues.

The chain's entry into administration came ahead of the takeover agreement with Moyagi Group, which acquired the business as a going concern. The specifics of which venues will close and the timeline for closures were not detailed in the available reports.

Karaoke chain enters administration, three venues to close — Image: Evening Standard

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How it is being reported

Karaoke chain to shut three venues despite rescue deal after administrationEvening Standard · 6 Oct, 14:33
Karaoke chain to shut three venues despite rescue deal after administrationIndependent Business · 6 Oct, 14:33

In this story: Moyagi Group · UK

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