A WALKABOUT branch in Lancaster is to close down as part of a rescue deal for troubled pubs and clubs chain Regent Inns.
A total of 186 jobs will be lost throughout England as administrator BDO closes nine of the group’s worst performing sites.
BDO is to close Walkabout sites in Bradford, Lancaster and Shaftesbury Avenue, as well as five Jongleurs clubs in Bow, Bristol, Nottingham, Oxford and Southampton, and a Quincey’s in Bristol.
The rescue deal safeguards 60 other sites along with 1,800 jobs.
Regent management, led by chief executive John Leslie, agreed the deal after the company was placed into administration.
BDO has also secured a separate sale of 12 other Regent sites - including nine Old Orleans restaurants - to Punch Taverns in a move that will see 254 staff transfer to the pub group.
The deal is said to leave the surviving Regent Inns business majority owned by the banks, after lenders including Royal Bank of Scotland, Barclays, Lloyds Banking Group and West LB reportedly agreed to write-off 40% of an £80 million debt pile in return for a controlling stake.
The management team that led the rescue buyout has formed a new company called Intertain to complete the deal. They also announced the appointment of former Pitcher & Piano manager Mike Dowell as strategy and business development director and said a "further strengthening of the board is expected to be announced shortly".
The pre-pack administration is said to follow failed attempts by Mr Leslie and the board to secure financing for a buyout at the 11th hour last Friday.
Regent has been struggling from tough trading amid the recession, earlier this year reporting pre-tax losses of £2.3 million for the 26 weeks to December 27 after a subdued Christmas party season increased pressure on its Jongleurs comedy clubs. Like-for-like sales declined 12.2% in the half year.