Luminar dives after another resignation

SHARES in nightclub group Luminar slumped after it announced that it is parting company with respected finance director Andrew Burns. He is the second director to resign in less than a month, adding to the firm's mounting woes.

Chief executive Stephen Thomas is already waving goodbye to operations director Alistair Burford, a 17-year Luminar veteran.

Burns will stay on until the end of May to present the annual results and hand over to his successor. He is apparently keen to seek a fresh challenge after seven tough years with Luminar.

A source close to the group said there was no hint of a rift between Burns and his often-abrasive boss Thomas. Its not certain whether Burns is in line for a severance package. He is on a one-year contract and last year took home around £200,000.

A former star of the sector, Luminar (down 13½p at 541½p) has struggled in the face of rivalry from latenight pubs.