the Business Forum and
the Economic Partnership
in Brighton & Hove
Homepage    BCRP Intranet    Funding    Events    Knowledgebase    Links    About us     Contact us
Key projects



Workforce development 


Business &

Property &
Development sites




Consultation opportunities

Brighton & Hove Business Forum
8-11 Pavilion Buildings, Brighton, BN1 1EE
Tel: 01273 735442
Email: info@brighton

© Brighton & Hove
Business Forum

News - 28 August 2011
Party Street

Could the universities save West Street?

Luminar Leisure owns two of the largest night-time venues in the street. With the company reeling from the downturn and escalating youth unemployment reducing its core clientele, two giant holes could appear in Brighton’s nightclub street . . . .

Luminar is the UK’s largest nightclub operator but it has shocked analysts by removing its auditors just days ahead of crisis talks with its bankers against a background of a plunging share price [now less than 6p] and sales 12% down over the last eighteen weeks.

Increasing youth unemployment has caused Luminar to struggle for over two years; in December it was forced to refinance its borrowings adding a £99m three year loan at an interest rate of nearly 8% on top of net debt of £80m and a £43m tax liability.

Now Luminar has been obliged to return to its lenders to ask for a waiver of a debt covenant test; three high street banks are now in effect in control of Luminar and the removal of their auditors – PwC – raises questions about whether the banks had become unhappy with their role.

On paper, Luminar hovers on the brink of insolvency but it seems unlikely that the banks will push the button ahead of the bank holiday weekend and the imminent Freshers Week celebrations for both Brighton & Sussex Universities.

If Luminar goes into administration and Creation and Tru nightclubs in West Street close, even temporarily, it will leave a big gap at the southern end of West Street and be a blow to Brighton’s reputation as a party town.

Of course, if the worst happens, there are always those who won’t lament it but the night-time economy in the city is worth nearly £340m p.a. and these two clubs are well run and very popular. It is also difficult to envisage an alternative use for them and a new operator may be slow in coming forward in the current climate.

Read related items on:
Retail, pubs, clubs and restaurants
Tourism, entertainment and hospitality
University of Brighton
University of Sussex
West Street

Browse our business Knowledgebase or search by keyword


23 May 2018
Gingerman Restaurant Group to Open Restaurant at Hanningtons Estate Brighton
16 May 2018
Can you help us help rough sleepers? Search for a venue to provide shelter 15 May 2018
New Research Reveals Cost of Opening A Business in Brighton: £6,000 11 May 2018
Tech firm SaleCycle to open new office in Brighton, creating 30+ new jobs 4 May 2018
Get involved - National Numeracy Day This 16 May 1 May 2018
Barclays' High Growth & Entrepreneurs Awards 2018 launch to celebrate start-up leaders in the UK 30 April 2018
Barclays launches major drive to help SMEs tackle Cymbercrime 24 April 2018
An evening with Chris Fox, Lib Dem Peer 24 April 2018
"A triumph of innovation" 13 April 2018
Brighton city Centre Vacancy Rates continue to buck national trend 12 April 2018
The Ivy in the Lanes Set to open 2 May 2018 11 April 2018
Free Dr Bike Service Returns 20 March 2018
Brighton named most entrepreneurial city AND second best for student happiness according to Fresh Student Living 19 March 2018
A Meeting with Chris Fox, Lib Dem Peer - Why Business Matters 14 March 2018
Better Business for All Event with BEIS 7 March 2018
Brighton celebrates women in tech as Spring Forward festival returns for a fourth year 6 March 2018
Six months of success for BTN BikeShare 2 March 2018
Sustainability in Action masterclasses for Sussex businesses 2 March 2018
Doing Business in China comes to Brighton 1 March 2018
Brighton & Hove Chamber of Commerce presents: Protecting your brand- a guide for fast growth businesses 1 March 2018
Long haul passengers boost local economy and jobs, according to new Gatwick report on the 'Visitor Economy' 28 February 2018
Save time reporting crime 27 February 2018
Warren Morgan Resigns from Brighton & Hove City Council 23 February 2018
Brighton Technology Company, Paxton Ranks in Sunday Times 100 Best Companies to Work For 23 February 2018
Greater Brighton's Commercial Property Database 22 February 2018
SE-ASSIST - Launch of Loan Capital in Greater Brighton 19 February 2018
House Price update Q4 2017 19 February 2018
What would you do in a crisis? 19 February 2018
The investment journey for high growth entrepreneurs 9 February 2018
Make Change Count 2018 - helping rough sleepers in Brighton & Hove 8 February 2018
Brighton Technology Company Paxton Announces Recipients of New Scholarship Programmein Association with the University of Brighton 8 February 2018
Cyber London Accelerator Invites Summer 2018 Entries 8 February 2018
Innovate UK Launches Strand 2 Emerging and Enabling Technologies Sector Competition 8 February 2018
Success In Sussex As Food And Drink Heroes Crowned Winners 8 February 2018
UK Games Fund - Fourth Round Open to Applications 8 February 2018
Innovate UK & Prince's Trust Launch Young Innovators' Programme 6 February 2018
Brighton & Hove Food Partnership launches 'Kit Out The Kitchen' crowdfunding campaign 2 February 2018
Brighton & Hove Council and Crest Nicholson win £15m government funding to kickstart King Alfred project 1 February 2018
Could a Utilise Plus Programme grant help you?