Struggling bar and restaurant chain Sports Cafe is in new hands after being bought by investment firm Agilo.
The sports-based chain was put into administration on 14 January after a poor performance during the festive period and the refusal of its bank to bail it out due to uncertainties about the strengthen of consumer spending in 2008.
Agilo - a London-based firm specialising in distressed companies - has bought five of the Sports Cafe’s sites in London, Leeds, Birmingham, Newcastle and Glasgow.
The Manchester, Liverpool and Bristol bars have been closed and are not part of the deal.
Early reports have indicated that the sale price was under £10m but Agilo have not commented on the price paid.
Administrators Baker Tilly had marketed the business as a going concern.
Sports Cafe seeks rescue after poor Christmas >>
By Christopher Walton
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