FUTURE 3000, Bournemouth's largest nightclub and bar operator, is in the hands of administrators, its chairman Richard Carr has confirmed.

In a frank interview, the entrepreneur confessed that the "dramatic effects" of the credit crunch had cost him a third of his personal wealth and lifetime's achievements.

"The future is very bleak. I have no idea what I am going to do," he admitted. "I'm trying to find my way out of this forest.

"The long and the short of it is that business has not been particularly buoyant for a long time due to falling visitor numbers and rising costs.

"The credit crunch has had a dramatic effect on people's spending and entrepreneurs. All eight of our venues will go up for sale but customers shouldn't notice any difference."

Mr Carr, 49, said Bournemouth venues Bliss, Bent Club, Crank, Jimmys, Mint, Toko and lap-dancing club Wiggle, along with Dundees in Poole, had "officially gone into administration" yesterday.

The businessman added that the companies were worth £10 million this time last year, but now only worth "whatever the administrators will get for them."

His Poole-based property company Ravine Lifestyle is not affected.

He said: "It is obviously very unfortunate and I would like to thank the management and staff for their services. Staffing levels should not be affected.

"The credit crunch has, without doubt, meant a huge reduction in spend per head over the last two months. People are getting drunk before they go out on beer costing 33 pence a bottle in supermarkets. Energy costs are a huge issue."

He predicted a winter of "carnage", adding: "There are significant problems heading towards the many people involved in leisure and retail.

"Personally it is a huge blow to my estate and my wealth. It is not a pleasant day. However, I have got many other businesses."

Future 3000 was formed seven years ago. Last year the millionaire businessman called for an "aggressive marketing stance" to enable Bournemouth and Poole to compete with international destinations served by low-cost airlines.

And he slammed money being spent on targeting the 45- to 65-year-old market saying the towns needed to concentrate more on young couples taking weekend breaks.

Mr Carr hit the headlines when he opened lap-dancing club Wiggle on Old Christchurch Road. Earlier this year he said it was ludicrous to blame the industry for any decline in the town's reputation.

He told the Daily Echo: "People might like to blame it on us, but Bournemouth's demise as a family resort is down to the fact that it is now cheaper to fly to Barcelona or Malaga than it is to drive from London to Bournemouth.

"If there wasn't a demand for them, they would not exist. They are good, clean fun."