KLE Group exits nightclub operations

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The Kingston Live Entertainment (KLE) Group has shed light on its decision to get rid of its night club operations, stating that the company's management and board have been reviewing the strategic position of the company and the expansion into restaurant franchising.

KLE says the exit from the night club business ended the demand on the company's working capital and other resources which are needed to focus on the restaurant and franchising business.

The decision was made to sell the assets used in the operations of the Famous Night Club.

KLE still owns the trademarks associated with the brand.

Earlier this year it completed the sale of 51 per cent of Tracks and Records to Joseph Bogdanovich.