Owners of esports bar The Wired Lobby go into administration with debts of £900,000
The owners of an esports bar that closed suddenly in Middlesbrough went into administration with debts of more than £900,000 it has emerged.
Gaming Ventures traded as The Wired Lobby in the former Peacocks shop at Captain Cook Square. The venue opened last December but closed in April after bailiffs were sent in over an alleged breach of its lease.
The company had received financial support from Middlesbrough Council to set up the venue. But Gaming Ventures went into liquidation in July and now documents that its creditors have lodged claims for just over £923,000.
Among the amounts owed are two sums to Middlesbrough Council, one standing £308,752 and another at £88,118. Other debts are owed to HMRC, energy and utility suppliers, and to a handful of food and drink suppliers, including some local firms.
The company’s statement of affairs reveals that it has assets of just over £20,000, meaning payments are only likely to be made to former employees and for part of its tax bill.
The development had encountered several delays after initially being scheduled to open in May 2022. It finally welcomed customers just before last Christmas but closed temporarily a few weeks later and then was shut its doors permanently earlier this year.
Teesside Live has previously reported that Gaming Venues received around £500,000 from the council, half as a loan and half as a grant. When it opened it was described as “every gamer’s dream”, hosting state-of-the-art PCs, the gaming latest consoles and full-size car racing simulator. It also boasted an arena to host live events and esports tournaments.
Captain Cook Square is currently undergoing a huge regeneration project, with go-karting venue Level X set to be joined soon byAmerican fast food chain Wendy’s, a boutique cinema, and a new restaurant.