The company which owns a major seafront nightclub has gone into liquidation.

Central Entertainments Limited, which runs The Honey Club in King's Road Arches, Brighton, made an application to wind up the company on July 10.

Administrators Baker Tilly, based in Brighton, has assessed the firm's assets and told The Argus the company was being wound up because of market conditions and the credit crunch.

But The Honey Club is still up and running and has been taken over by a new company called Highprompt Ltd.

Tom D'Arcy, from Baker Tilly, said: "We were appointed administrators on July 10.

"Prior to our appointment, Central Entertainments Limited ceased trading and a new company is operating the nightclub.

"Central Entertainments Limited was a dormant company when we were appointed.

"I understand the new company, Highprompt Ltd, has the same management team as the old company.

"Markets conditions and the credit crunch means consumers are spending less money when they are out, especially in the licensing sector and pub trade.

"There is also a lot of competition in Brighton which contributes to a fall in turnover."

The Argus made several attempts to contact Steve Honeysett, the owner of The Honey Club, but to no avail.

Last month, experts warned that the pub industry was under serious threat from the smoking ban, the credit crunch and cheap supermarket alcohol.

A survey by The Argus revealed that at least 100 Sussex pubs are on the market – where they have been languishing for months with no buyers.

A leading commercial property agent said conditions will become even worse in the coming months, sending more pubs out of business.

The Campaign for Real Ale also backed this up saying they had seen a rise in the number of pubs being sold in Sussex in the past six months.

Their Sussex spokesman said the smoking ban had turned people off their local and increases in duty on alcohol had reduce profit margins.

Many pubs have been forced to reduce their selling price. The Toby Inn in Woodingdean, Brighton, has slashed its selling price from £400,000 to £200,000.

However, not all people in the licensing and brewery trade are suffering from the credit crunch.

The Dark Star Brewery has been struggling to keep up with demand from real ale drinkers.

The brewery, based in Ansty, near Haywards Heath, is having to treble production which means finding more premises and more staff.