Nuvo, one of Birmingham’s top bars, has gone bust just three years after opening.
The Brindleyplace cocktail lounge and club, run by brothers Chris and Cos Papachristoforou, went into liquidation following the intervention of HM Revenue and Customs.
The brothers also run Edmunds and Cielo restaurants at Brindleyplace.
The Brunswick Square bar is continuing to trade under the same name while talks with liquidators continue.
Chris Papachristoforou told the Birmingham Post that his other ventures were not affected by the financial difficulties that have hit Nuvo, which he blamed on the recession.
Mr Papachristoforou said: “We have gone into liquidation. We are in talks with the liquidator to see where we stand with them. We are nevertheless trading still as Nuvo.
“The people who work there and the people who go there, who are our patrons, this doesn’t affect them.
“We need to see what the outcome of the liquidators’ decisions will be in as far as the money that is owed to creditors.”
Mr Papachristoforou said he was “not exactly sure” how much cash was owed but it included unpaid VAT and PAYE. Debts to food and drinks suppliers were “not so much”.
Mr Papachristoforou said he hoped a compromise would be reached in the next few days.
He blamed the economic slump for the problems dogging the hospitality sector.