SFP, the administrators to Beatbox Bars Ltd, a management company for several Cardiff-based bars and music venues, have found a buyer for one of the outlets creating 30 jobs.

Daniel Plant and Simon Plant of SFP were appointed as joint administrators to Beatbox Bars last month. The company ran three popular nightspots - Fire Island, Ten Feet Tall and Buffalo - which together had an annual turnover of around £1.5m and employed 70 staff. A major downturn in trade over the winter put severe pressure on cash flow and resulted in financial difficulties.

SFP has now sold Fire Island to a Newport-based microbrewery, Tiny Rebel, in a deal which will create a new 'tap house' in the area, generating up to 30 new jobs. Tiny Rebel, which began brewing 18 months ago, reported a turnover of £250,000 in its first year which is expected to double in 2013. It already has a successful in-house bar at its brewery in Newport, but this will be the brand's first tap house in Wales.