More recently, the cost-of-living crisis and the fall in disposable incomes seen across the UK since late 2021 has also adversely impacted the business.Ĭonsequently, the financial performance and position of the Group has declined in recent years, leading the Company to experience cashflow challenges. In May 2021, the Company’s bingo hall in Spalding, which was a profitable venue, suffered a serious fire as a result of an electrical fault and subsequently never reopened.
Historically profitable, the Company was adversely impacted by lockdowns during the COVID-19 pandemic which caused significant reductions in admissions which have since failed to fully recover. Majestic Bingo is an independent operator of retail bingo, operating eight clubs across England and Wales and employing 143 people at the time of the appointment of the administrators. Tim Bateson and Chris Pole from Interpath Advisory were appointed joint administrators to Majestic Bingo Limited on 7 July 2023.
