Majestic, a leading operator of casino games in England and Wales, has faced significant challenges in recent times. The Covid-19 lockdowns resulted in a sharp decline in admissions, which have not fully recovered. Additionally, Majestic’s bingo hall in Spalding suffered a devastating fire caused by an electrical fault, leading to its permanent closure.
Furthermore, the business has been adversely affected by the cost-of-living crisis and the decrease in consumers’ disposable incomes since late 2021. These factors have led to a decline in Majestic’s financial performance and position, as well as cashflow difficulties. Consequently, the company’s directors made the decision to place the business into administration.
On 7 July, administrators Tim Bateson and Chris Pole from Interpath Advisory were appointed to oversee the operations of Majestic. The administrators will continue to trade the business and its venues with the aim of exploring potential options for a sale. All staff members have been retained to ensure the continuity of operations.
It is important to note that Majestic’s online arm, Majestic Bingo Online Limited, operates separately from the administrated business and will continue to operate normally.
“Majestic is a well-known independent bingo operator in the UK,” Bateson stated. “However, recent years have been challenging due to the impact of the pandemic lockdowns and the cost-of-living crisis. We will trade the business in the short term while actively seeking a buyer. Interested parties are encouraged to contact us as soon as possible.”
