Absolute Leisure sites for sale after firm goes into administration

Sites owned by Newcastle-based pub, restaurant, nightclub and hotel operator Absolute Leisure have been put on the market after the company was placed into administration.

The company, set up by Michael Quadrini, operated a four-strong estate of businesses across the North East including Coco`mos restaurant in Newcastle and The New Angel hotel in Whitby.

Administrators Begbies Traynor were called in last week after it emerged the company could no longer go on trading. The current economic situation was said to be responsible for its failure.

Sites on sale include the Lounge pub and nightclub and 260-cover Coco`mos restaurant in Newcastle, the 19-room New Angel Hotel in Whitby and the Tuxedo Princess nightclub, previously sited in Gateshead Quay.

David Lee, Director at Christie & Co, the agent in charge of the sale, said: “We believe the mixture of properties and operations included in the Absolute Leisure portfolio will be of particular interest to established local operators and local entrepreneurs in the licensed and retail sectors.”