\n However, after months, an administrator\u2019s progress report \u2013 published this month \u2013 has confirmed that a full rescue could not be achieved and a number of sites were closed with over 100 employees made redundant.\n<\/p>\n
\n Sixes was founded in 2020 by Calum Mackinnon and Andy Waugh.\n<\/p>\n
\n In 2023, the business secured funding from 4Cast Investment Group, the brainchild of England internationals Ben Stokes, Jofra Archer and Stuart Broad.\n<\/p>\n
\n Sixes Social did have a venue at the Westgate Oxford (Image: Newsquest)\n<\/p>\n
\n It is among chains to have grown in recent years as part of a boom in so-called competitive socialising, competing with brands such as Flight Club and Junkyard Golf.\n<\/p>\n
\n The group said in December that it has a core of strongly performing sites but has seen others struggle in the face of fierce competition and \u201creduced consumer spending\u201d.\n<\/p>\n
\n A statement of affairs revealed debts to unsecured creditors of \u00a33,447,197, including to the tax man.\n<\/p>\n
\n Unsecured creditors are businesses, authorities or anybody who is owed money by Sixes but are at the back of the queue in getting their full money back.\n<\/p>\n
\n After the Southampton site was shut, the decision was taken to close the Birmingham, Guilford, Fulham and Westfield venues in December as well.\n<\/p>\n
\n In the administrator\u2019s report by FRP Advisory, it was revealed that despite negotiations with several businesses a deal to secure the future of its Fitzrovia, Manchester and Oxford sites could not be completed and all three closed permanently on April 22.\n<\/p>\n
\n Sixes Social Cricket (Image: Sixes Social Cricket)\n<\/p>\n
\n Vantage Capital Partners Limited initially agreed to take over all four sites in a deal worth over \u00a34 million but negotiations over a cash consideration requirement \u2013 an obligation to make a cash payment not using stock or debt \u2013 stalled the process.\n<\/p>\n
\n As such the business made a new offer, by which it would only buy the London Bridge venue and certain of the business\u2019 assets in a deal worth \u00a33.5 million, citing the \u201csizable investment required\u201d if it were to take over all four.\n<\/p>\n
\n A separate agreement was initially negotiated for the Fitzrovia, Manchester and Oxford sites for \u00a3500,000 but the party behind the offer pulled out.\n<\/p>\n