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Fri 5th May 2023 - Exclusive: All Star Lanes set to review its options
Exclusive – All Star Lanes set to review its options: Boutique bowling alley operator All Star Lanes, which is backed by Luke Johnson's investment vehicle Risk Capital, has appointed advisors, as it explores its future funding options, including a possible sale of the business, Propel has learned. It is understood the London-based business, which is led by Graham Cook, is working with BDO on its options. Risk Capital acquired the then five-strong business, which was founded in Holborn in 2006, through a pre-pack administration process in September 2019. All Star Lanes was founded by Mark von Westenholz and Adam Breeden, with the latter stepping down from the business in 2012 to focus on his ping pong concept Bounce. Since launching the original venue in Holborn, All Star Lanes opened further sites in Westfield Stratford City, Westfield London, Bayswater, Brick Lane and Manchester. The latter site was closed in September 2020 and subsequently acquired by Lane7, the bowling alley, ping pong and karaoke concept. The Bayswater venue closed in April 2018, after the then owners of the business belatedly accepted an offer on the site following the sale of the Whiteleys shopping centre to developers from Brunei several years before. Propel understands the decision to explore options for All Star Lanes comes on the back of strong trading for the business. It is thought the company could generate interest from established rivals, such as Hollywood Bowl and Ten Entertainment, and from the likes of State of Play Hospitality, Lane7 and Roxy Leisure, as consumer appetite for competitive socialising concepts shows no signs of abating. In its last accounts for the year to 26 December 2021, All Star Lanes reported: “The business has experienced strong trading momentum following the broad lifting of lockdown restrictions in summer 2021. Financial performance for the second half of FY21 was very encouraging, with KPI metrics tracking ahead of budget and comparative periods in the months not impacted by lockdown restrictions. Despite further trading restrictions relating to the Omicron variant denting this rebound over the key Christmas 2021 period, the business delivered operating profit for FY21. Performance year to date through FY22 has been encouraging, at both a revenue and profit level, and continues to be underpinned by strong demand across all sites, with customers continuing to value the fun, unique and affordable proposition that All Star Lane's provides.” All Star Lanes features in the Propel Multi-Site Database, the latest version of which was sent to Premium subscribers last Friday (28 April). A total of 23 new multi-site companies, operating 181 sites, were added to the database, which is produced in association with Virgate. The comprehensive database is updated monthly and provides company names, the people in charge, how many sites each firm operates, its trading name and its registered name at Companies House if different. The database now features 2,832 companies. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription.


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