Sixes, the cricket-themed bar chain backed by England cricket captain Ben Stokes, has entered administration following a period of challenging trading conditions. Despite the financial turmoil, all 15 of the company’s UK venues remain operational, with the exception of its Southampton branch, which has closed, resulting in the loss of three jobs.
According to FRP Advisory, the appointed administrators, discussions are ongoing with several interested parties regarding the potential sale of the business and its most successful locations. This development suggests that further closures could occur if a sale does not materialize.
Challenges in the Experiential Hospitality Sector
Tony Wright, joint administrator at FRP Advisory, emphasized the priority of securing the best possible outcome for Sixes while ensuring that customer bookings are honored through the Christmas season and beyond. The chain, which launched in 2020, offers a unique blend of hospitality and cricket, inviting patrons to face bowling machines and score runs in a social setting.
Sixes is part of a growing trend in social entertainment, alongside competitors like Flight Club and Boom Battle Bar. It has financial backing from 4Cast, an investment group founded by notable cricket figures including Ben Stokes, Jofra Archer, Stuart Broad, and former player turned agent Mike Turns. The exact stake 4Cast holds in Sixes remains undisclosed, though they provided a cash injection in 2023.
Economic Pressures and Industry Competition
The hospitality industry has been vocal about the increasing financial pressures it faces, citing rising business rates and minimum wages as potential catalysts for job losses and business closures. FRP Advisory noted that while Sixes has a core of strong-performing sites, others have struggled due to fierce competition in the experiential venue market and reduced consumer spending amid economic uncertainty.
Mr. Wright acknowledged the brand’s strength in the social entertainment space, stating, “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.”
“We’re confident that with the right investment and focus, Sixes can build on its core strengths,” he added.
The Administration Process and Future Prospects
Administration is a process aimed at rescuing financially troubled companies. When a business is unable to meet its financial obligations or secure further borrowing, administrators are appointed to manage the company and attempt to stabilize its finances. If a business cannot be saved, its assets may be sold to repay creditors, a process known as liquidation.
Sixes entered administration shortly before England’s Ashes defeat to Australia in Adelaide, a symbolic moment given the chain’s cricket theme. The future of Sixes now hinges on the ability of administrators to negotiate a successful sale and the willingness of potential buyers to invest in the brand.
As the hospitality sector continues to navigate economic challenges, the fate of Sixes will serve as a barometer for the resilience of experiential venues in a competitive market. The coming weeks will be crucial in determining whether Sixes can emerge from administration with a sustainable business model and continue to offer its unique cricket-themed entertainment to patrons across the UK.
