Chester bar and restaurant Boujee sold in a pre-pack deal
The Chester Boujee Bar and Restaurant has been acquired by one of the founding directors. It follows the appointment of Lisa Moxon and Ben Barrett of Dow Schofield Watts Business Recovery as joint administrators.
The restaurant in Pepper Street was one of three operating under the Boujee brand. The first opened in Liverpool in December 2020, just before the second lockdown, promising to be the city’s ‘most Instagrammable’ bar and restaurant when it launched.
A second venue opened in Manchester in May 2021, together with a pop-up venue at the Trafford Centre. This was followed by the launch of the Chester venue in November 2021. However after facing financial difficulties, the directors took the decision to close the Liverpool venue in July 2022 while the Manchester venue was temporarily closed on 23 September.
“The hospitality sector has faced tough times during and since the pandemic which have taken their toll on the Boujee business,” says Lisa Moxon of Dow Schofield Watts Business Recovery.
“The company’s initial trading was positive despite the Covid restrictions at the time, although during the lockdowns it made a loss and as a new business, was unable to access the majority of Covid support packages available.
“In late 2021, the Liverpool venue was failing to achieve its expected turnover which resulted in significant cash-flow difficulties. These were compounded by increases in food and drink costs which could not be passed on to customers. Despite the closure of the Liverpool restaurant and efforts of the directors, the company’s financial position has continued to deteriorate with turnover continuing to fall.
“Having explored all the options, we believe the pre-pack sale is the best available outcome for creditors and employees. It will enable Boujee to continue to trade and build its profile in Chester whilst saving the jobs of the 32 staff. We wish them all the best for the future.”
