The British karaoke chain Lucky Voice will close half of its venues following a rescue acquisition by Swedish company Moyagi Group. The deal, completed through a pre-pack administration process, comes after Lucky Voice hired administrators amid financial difficulties.

Lucky Voice, which operates six sites across the UK, will shut three locations immediately as part of the insolvency proceedings. The venues in Brighton, Waterloo, and Islington are set to close, leading to 53 redundancies. Meanwhile, the company’s three London sites in Soho, Holborn, and Liverpool Street are included in the acquisition and will continue operating under Moyagi Group.

The transaction encompasses the Lucky Voice brand, its intellectual property, its business-to-business operations, and 59 employees, according to administrators from Interpath, who managed the administration process.

Lucky Voice, founded in 2005, experienced a significant downturn in trading over the past year amid a challenging consumer environment. The firm faced liquidity pressures and was unable to secure a solvent sale before entering administration.

Steve Absolom, managing director at Interpath and joint administrator, emphasized the importance of supporting employees affected by the closures and ensuring a seamless handover of the continuing sites to Moyagi Group. The acquisition aims to preserve part of the business while addressing its financial challenges through the insolvency procedure.