Zavvis former trainer to reinstate Luminar founder

Dominic Walsh & , : {}

Luminar, the UK"s greatest nightclub operator, reliable currently that Stephen Thomas, the owner and arch executive, would be timid from the house at the finish of the month.

Mr Thomas, who founded the organisation in 1988, will go on with the association until the finish of Jul to well-spoken the handover to his successor, Simon Douglas.

Mr Douglas was before arch senior manager of Zavvi, the song tradesman that went bust in Dec 2008 less than eighteen months after he combined the association by a buyout of Virgin Megastores.

His appointment currently as arch senior manager of Luminar competence warn a little investors, since his experience at Zavvi.

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However, sell analysts pronounced that the disaster of the sequence was precipitated by the fall of Woolworths, that was the solitary distributor of CDs and DVDs to Zavvi, rather than any error of management.

Mr Douglas, 44, is a former operations senior manager of HMV, the song retailer, and his attainment at Luminar comes after the launch of a vital tie-up with HMV that will concede the dual companies to work together in 4 hearing locations to expostulate sales to each others outlets.

He is believed to have been approached by Luminar after Avril Palmer-Baunack, arch senior manager of Autologic Holdings, incited down the job.

The depart of Mr Thomas follows a vehement twelve months for the nightclub user during that it released a array of distinction warnings and lifted �36 million around a share issue.

Analysts referred to currently that Mr Douglas competence need to launch a uninformed share issue to accelerate the change piece after he completes a examination of the commercial operation and the monetary position.

Alan Jackson, Luminar"s chairman, paid reverence to Mr Thomas"s achievements at Luminar, claiming that he had "pioneered most of the complicated handling trends right away prevalent in the industry".

He added: "He leaves us a good item bottom and a strong, experienced and constant group of people. We would similar to to appreciate him for his superb loyalty to the association and for committing to a well-planned handover."

Mr Jackson pronounced that Mr Douglas had experience of flourishing consumer businesses in difficult markets, adding: "I have no disbelief that underneath his leadership, as trade conditions improve, Luminar is well positioned to precedence the strengths in to shareholder value."

Shares of Luminar combined 0.75p to 34p.