michael careerbusiness reporter
bbcSixes, the cricket-themed social network backed by England captain Ben Stokes, has gone into administration following a “challenging trading period”.
The company’s 15 UK sites remain open, but a branch in Southampton closed following the decision and three members of staff lost their jobs.
Administrators FRP Advisory said talks were taking place with “a number of interested parties” about selling the business and its top performing sites, suggesting further closures could occur.
Tony Wright, joint administrator, said the priority was “to ensure the best outcome for the business” while respecting customer bookings “over the Christmas period and beyond”.
Sixes, launched in 2020, is a chain that combines hospitality with cricket. Parties are held there where people take on bowling machines and try to score as many runs as possible.
It is part of a similar social entertainment approach offered by rivals such as Flight Club and Boom Battle Bar, and is backed in part by 4Cast, an investment group founded by Stokes, current and former England bowlers Jofra Archer and Stuart Broad, and former player-turned-agent Mike Turns.
The Sixes went into administration last week, before England lost the Ashes following defeat in the third Test match against Australia in Adelaide.
It is not known what stake 4Cast has in Sixes, which injected cash back in 2023. The BBC has contacted 4Cast for comment.
FRP Advisory said that while the business had a “core of high-performing sites, others have struggled”, amid “fierce competition for experiential venues and reduced consumer spending due to economic uncertainty”.
It said that, apart from the Southampton branch which had closed, the remaining venues and franchises would remain open and all bookings would be accepted over the festive period.
The main task of management is to try to save a company.
When companies are losing money, they can borrow to pay the bills; However, if a company cannot pay its debts or borrow more cash, a team can be hired to take over from management and put the finances in order – the process known as administration.
If a business cannot be saved, the business’s belongings may be sold in order to repay some of the money borrowed, known as liquidation.
The hospitality industry has expressed concern in recent times about the increased costs faced by businesses, including business rates and minimum wages, arguing they could lead to job losses and business bankruptcies.
Wright said Sixes had “built a strong brand in the social entertainment space and its unique venues have proven very popular with customers”.
“While some locations have struggled in an increasingly competitive market, the business has significant potential and we are encouraged by the initial interest we have received from parties interested in acquiring the brand and its top performing sites,” he added.
“We are confident that with the right investment and focus, Sixes will be able to leverage its core strengths.”
