Due to financial performance difficulties, Majestic Bingo, a UK-based independent retail bingo operator, has gone into administration.
 Punishment for Dutch bingo
 Since the COVID-19 lockdowns, Majestic—which employs 143 people and runs eight clubs in England and Wales—has been struggling.

 Despite the traditionally prosperous nature of the business, admissions were significantly reduced due to the lockdowns and have not yet recovered.

 A major fire broke out at Majestic's bingo hall in Spalding due to an electrical problem.  The once-profitable venue closed its doors forever.

 More recently, the company was hit hard by the cost-of-living issue and the decline in consumers' disposable budgets starting in late 2021.

 In addition to a number of cashflow issues, Majestic asserted that this caused a decline in its financial performance and position.  Consequently, the board of directors decided to put the company into administration.

 Administrators appointed
 The operator was appointed to joint administrator status on July 7th by Tim Bateson and Chris Pole of Interpath Advisory.  Even though they are looking into potential sales options, they plan to keep trading the venues and business as usual. 

 The administrators also kept all of the employees on staff so that business could keep running.

 The internet division of Majestic, Majestic Bingo internet Limited, is a legally distinct and unassisted business.  It will keep operating normally, on a solvent basis.

 Among independent bingo providers in the UK, Majestic is among the most well-known, according to Bateson.  But the effects of the pandemic's lockdowns and the cost-of-living crises have had a negative influence on trade in recent years. 

 While we look for a buyer, we will keep trading the business for the time being.  If you are interested, please get in touch with us right away.