ONE of Wanstead's busiest bars could shut down after the company that runs it went into administration.

Bar Room Bar Ltd, which owns 13 premises across the UK including one in the High Street, went into administration last week as a result of "cash-flow" difficulties.

The Wanstead branch, which employs 13 people, will remain open for at least four more weeks, but it could close for good unless a buyer is found soon.

The Birmingham-based group has already been forced to close branches in Borehamwood, Sutton and Southampton.

Nick Cropper, Ryan Grant and Anne O’Keefe of Zolfo Cooper, have been appointed as joint administrators of the company.

A spokesman for the bar said: "The company entered administration as a result of ongoing cash-flow difficulties.

"The joint administrators intend to continue trading 10 of the bars whilst exploring a range of possible opportunities including selling all or part of the business as a going concern, which could help secure ongoing employment for 200 staff."

Administrator Nick Cropper added: “Bar Room Bar is a recognised brand with a network of bars across the UK.

"It has entered administration as a result of difficult market conditions but continues to trade on a business as usual basis whilst a buyer is sought.

"We are grateful in advance for everyone’s support and patience during the administration process and are confident that there will be interest from potential buyers to secure the future of this business.

"We will need the support of all parties to achieve this.”