Sixes, the cricket-themed bar chain supported by England’s cricket captain Ben Stokes, has entered administration following a challenging trading period. The company, known for its unique blend of hospitality and cricket entertainment, has kept its 15 UK-based venues operational, except for a branch in Southampton which has closed, resulting in the loss of three jobs.
Administrators from FRP Advisory are currently in discussions with several interested parties regarding a potential sale of the business and its most successful locations. This move suggests that further closures could be on the horizon. Tony Wright, joint administrator, emphasized that their primary goal is to secure the best possible outcome for Sixes while ensuring that customer bookings are honored throughout the Christmas period and beyond.
The Rise and Challenges of Sixes
Founded in 2020, Sixes quickly gained popularity by offering a novel experience that combines social entertainment with cricket. Patrons can engage in cricket-themed activities, such as facing bowling machines to score runs, making it a favorite for parties and social gatherings. The concept mirrors similar entertainment venues like Flight Club and Boom Battle Bar. Sixes also enjoys backing from 4Cast, an investment group established by Ben Stokes, alongside other cricket luminaries such as Jofra Archer, Stuart Broad, and Mike Turns.
The chain’s entry into administration came just before England’s loss in the Ashes series against Australia, a poignant reminder of the unpredictable nature of both sports and business. The extent of 4Cast’s investment in Sixes remains undisclosed, though the group had injected capital into the business earlier in 2023.
Economic Pressures and Industry Competition
According to FRP Advisory, while Sixes boasts a core of high-performing sites, others have struggled amidst fierce competition in the experiential venue market and a decline in consumer spending due to economic uncertainty. The closure of the Southampton branch underscores these challenges, though the remaining venues and franchises are set to continue operations, honoring all bookings through the festive season.
The hospitality industry at large has voiced concerns over escalating costs, including business rates and minimum wages, which they argue could lead to job losses and business closures. The administration process aims to salvage the company, but if that proves unfeasible, liquidation may follow, where company assets are sold to repay debts.
Expert Opinions and Future Prospects
Tony Wright highlighted that Sixes has established a strong brand within the social entertainment sector, with its innovative venues attracting a loyal customer base. “While some locations have struggled in an increasingly competitive market, the business has significant potential, and we’re encouraged by the early interest we’ve received from parties interested in acquiring the brand and its strongest-performing sites,” Wright stated.
“We’re confident that with the right investment and focus, Sixes can build on its core strengths,” Wright added, indicating optimism about the chain’s future prospects.
The situation at Sixes is emblematic of broader trends affecting the hospitality industry, where businesses must continually innovate and adapt to survive. As negotiations with potential buyers continue, the outcome will likely influence the strategic direction of similar entertainment ventures in the UK.
As the administration process unfolds, the focus remains on securing a viable path forward for Sixes, ensuring that its unique blend of cricket and hospitality can continue to delight patrons across the country.
