A LIVERPOOL city centre restaurant has become the latest victim of the credit crunch, after falling into administration.

The Blundell Street Supper Club is no longer allowed to serve alcohol after its licence lapsed.

The administrators failed to transfer the licence within the seven-day period, as required by council guidelines.

As a result, Blundell Street is unable to sell alcohol until a valid licence is applied for from the local authority.

That process could take between two weeks and a month, and represents a blow in the busy Easter trading period.

Bosses at the venue, off The Strand, say they will remain open to serve food and soft drinks.

This follows the alcohol ban which hit Circo, Raven, Korova and Babycream, part of Docklands Bar Ltd, after it fell into administration in March.

The bars and clubs suffered a similar fate and face thousands of pounds of lost revenue as it occurred over the busy Grand National weekend and is set to continue over Easter. Licensing officers from Merseyside Police are satisfied the Blundell Street owners were not aware the licence had lapsed, so did not issue closure notices.