Home Jobs Deltic rescue deal to secure more than 1,300 jobs

Deltic rescue deal to secure more than 1,300 jobs


Nordic bar and club operator REKOM has bought Deltic out of administration in a move that could save more than 1,300 jobs.

The deal, which includes 42 bars and clubs, was struck through REKOM UK.

REKOM Group operates more than 130 bars and clubs in Denmark, Finland and Norway and has been backed by Danish private equity firm CataCap since 2018. 

REKOM UK is expected to merge with REKOM Group once Covid-19 restrictions are lifted.

Alantra advised on the deal. Its team was led by Bobby Fletcher and Sebastian Hougaard.

“We’re delighted to have assisted in the acquisition of this leading business at a very difficult time for the UK’s leisure and hospitality operators,” Fletcher said.

“Deltic was a successful and highly profitable business before the pandemic and this acquisition provides a lifeline for the vast majority of Deltic’s locations, as well as saving a significant number of jobs. 

“The newly formed REKOM UK is well placed to thrive once Covid-19 restrictions are lifted with the backing of an incredibly ambitious owner and a highly credible and experienced management team.”

REKOM was also advised by Hill Dickinson (Legal). BDO acted as administrators and were advised by Freeths (Legal).



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Bondi backpacker asked to leave restaurant over ‘not acceptable’ outfit gets apology

A popular Bondi restaurant has apologised to an Italian backpacker for “embarrassing and offending” the woman over her choice of outfit.North Bondi Fish...

This is what happens to your body when you stop exercising

After a lot of effort, you finally started exercising, but one fine day you got busy and felt too lazy to...

What Big Brother star David Graham, ‘Farmer Dave’, looks like now

David Graham, or “Farmer Dave”, as many may remember him as, hit our screens back in 2006 when he appeared on the reality...

Fauci warns of surge in COVID-19 after Christmas and New Year

The worst of the coronavirus pandemic may be on the horizon for the US, with a possible surge in cases after the Christmas...

Dire forecast for end of the year

Much of Australia can expect a wet end to the year, with thunder and rain storms predicted across the eastern half of the...
%d bloggers like this: