53 employees have been made redundant after a Wrexham-based entertainment and leisure firm entered administration.
Yales Leisure Limited operated three establishments -a café bar, a late bar and club, and live music venue – from two freehold properties.
Chris Pole and Mark Orton from KPMG were appointed as joint administrators on 13 November 2013.
A potential purchaser has been granted a license to occupy the freehold premises to continue operation of the business, during which time a sale of the properties was being finalised.
Joint administrator and director at KPMG Chris Pole said: “The business suffered significant losses in the wake of the recession which was exacerbated by the general challenging conditions facing the licensed trade.
“We are pleased to have been able to secure a deal to ensure trading continues from the premises, and hope to complete a sale of the properties within the next 28 days.”
While all Yales Leisure staff were made redundant following the appointment, it “understood that the new occupier of the property has subsequently taken on all of the staff in the continuing business.”