Question mark over venues' future

Jongleurs venues in Edinburgh and Cardiff have been put on the market – casting doubt over their future as comedy clubs.

The chain’s troubled owners, Regent Inns, is trying to sell the clubs in an attempt to reduce its debts and running costs.

They are among 14 sites being sold off, including three Walkabout Australian-themed bars, three Old Orleans restaurants and Quinceys in Bristol.

A company spokesman told Chortle: ‘Following an extensive review of its property portfolio, Regent Inns has begun openly marketing for sale 14 sites within its current 95-strong estate.  This decision is in line with the board's stated intent of reducing debt and operating costs.

‘Until any transactions are completed, the venue will continue to trade as normal, and will be supported centrally by all Regent Inns’ departments.’

As no buyer has yet been found, it is not known if the venues will continue to be run as comedy clubs. Both are in city centre leisure complexes: the Jongleurs in the Millennium Plaza, Cardiff, was opened in 2002. while the Edinburgh site, in the Omni Centre, opened in July 2003.

Jongleurs has previously closed only one club, its Manchester venue, in 2006.

Regent Inns has suffered a very difficult time at the Stock Market recently. Its share price today stands at 4p – meaning the company is worth less than five per cent of its value last summer, when shares were 85p.

When Jongleurs founder Maria Kempinska sold her eight comedy clubs in 2000, the deal valued Jongleurs alone at £30million. Today, the whole of Regent Inns – now including 16 comedy clubs, the Walkabout chain of 50 Australian theme bars plus 31 Old Orleans restaurants – is worth just £4.5million.

Published: 17 Sep 2008