Nottingham axe-throwing venue shuts after firm plunged into administration by donut venture

A Nottingham entertainment venue where pals could compete at axe-throwing has closed after it was plunged into administration. Hatchet Harry's, which opened on Lister Gate in Nottingham city centre three years ago, has permanently closed after the company running it appointed administrators.

While the beleaguered shopping street has proved to be a graveyard for shops and other businesses since the closure of the Broadmarsh centre, the unorthodox entertainment space's closure seems unrelated to the commonly blamed low footfall in the area. Documents submitted to Companies House show Hatchet Harry's, which also had locations in Derby, Newcastle, Glasgow, Aberdeen, Brighton and Middlesbrough, seemingly got into difficulty due to a Covid-era venture into donut making.

While the axe-throwing spaces had been doing well, the company had invested in setting up Harry's Handcrafted Doughnuts during the pandemic's lockdowns - as the socialising it relied on to fill its venues had been prohibited. This initially had worked as the ring-shaped pastries provided a profit, but the growing side project soon became unprofitable due to rising costs.

The money pumped into the doughnut business restricted Hatchet Harry's cash flow and made it unable to pay debts as they fell due, administrator Opus Restructuring outlined. "The primary source of the company's financial difficulties had been the investment in the doughnut business, an investment that was intended to complement the company's existing operations," the joint administrators added, explaining the business and its assets had been sold for around £48,500.

Hatchet Harry's entered administration on August 9, but its Nottingham location continued to trade for a number of months afterwards. The company's latest accounts suggested it employed 35 people at the end of the 2023 financial year, but it is not clear how many worked in the Lister Gate venue.

Following its closure 32 Lister Gate has been put up for rent by estate agents FHP, which has described the unit as a "prominent city centre retail premises". Marketing materials explain the space is available for £40,000 a year, but the number of empty shop fronts on the city street suggest it could be unoccupied for some time.