Balls Brothers secures rescue deal

Novus Leisure has secured the purchase of Balls Brothers and Lewis & Clark out of administration.

Wine bar chain Balls Brothers acquired Lewis & Clark for £14 million in 2006, but itself went into administration at the end of 2010.

The deal is worth an initial £4.65 million with a subsequent £3.2 million payable on successful resolution of landlord and property matters. Novus will acquire 17 of the 19 Balls Brothers bars, six of which were previously owned by Lewis & Clarke.

Steve Richards, chief executive of Novus Leisure comments: ‘Balls Brothers provides an excellent fit with Novus’s focus on its heartland of the City and West End.

‘We are keen to continue extending our footprint and capacity in the buoyant London market.’

According to a statement released by the company Novus will look to ‘contemporise’ the Ball Brothers proposition and broaden its appeal to a wider customer base of City professionals.

Sites will be refurbished, the menu and drinks offer will be modernised and opening hours extended.

Novus operates 38 venues mainly in London’s West End and City districts. It owns the Tiger Tiger club chain and party-planning website latenightlondon.co.uk.