FTS Recovery Appointed Administrators for Active Arena CIC

Active Arena CIC has appointed Mark Hopkins and Ian Rose of FTS Recovery Ltd as joint administrators following the closure of their customer-facing premises on the 3 October 2024.

The company, which has operated a popular community football arena and sports bar in Lincolnshire since 2019, was forced to cease trading on the 10 October 2024 when severe cashflow shortages resulted in the disconnection of the Arena’s electricity supply.

Despite the popularity of the Active Arena venue, the company’s profit margin had been seriously depleted by rising energy prices and other cost increases associated with the cost-of-living crisis. With the company’s cashflow already stretched by Covid, this ultimately made it impossible to continue trading.

FTS Recovery is now actively seeking a buyer for the company and its assets, with a view to its continued trading as a going concern at their current premises. The sale will be managed by FTS Recovery’s appointed agents, Eddisons.

Mark Hopkins, insolvency practitioner, FTS Recovery Limited, said: “The closure of the Active Arena site will be a blow to the local community who have welcomed the award-winning facility as a fun and safe place to socialise and become active. We are eager to arrange a sale that will allow the company to return to serving its loyal customers as quickly as possible.

“The Arena is an excellent opportunity for the right buyer to build on what is already an integral part of the community with a strong customer-base and brand recognition.”

Formal notices of the administration will be dispatched to creditors shortly so they can submit any claims against the company. Customers who have paid in advance for cancelled activities can submit a refund claim to Active Arena CIC in Administration.

ENDS

Press contact for FTS:

Gill Sainsbury: 07949070989/Gill@gillsainsburypr.com

NOTES TO EDITORS:

About FTS Recovery

1. FTS Recovery is a national firm of licensed Insolvency Practitioners.
2. FTS provides advisory and formal insolvency, as well as business turnaround and recovery solutions, for all types of corporate and personal matters. The team has a proven track record of assisting a variety of stakeholders which include directors, shareholders, employees, lenders, charge holders, Private Equity (PE), Venture Capital (VC) and Family Office contacts.
3. For more information, visit or contact Marco Piacquadio, Head of FTS Recovery on: piacquadio@ftsrecovery.co.uk