Freeths advise Grant Thornton as Administrators on sale of UK’s largest night-time business, Rekom UK
National law firm Freeths has advised Grant Thornton as administrators of the CC Stim UK Group of companies on the sale of the UK branch of Northern Europe’s largest nightlife company REKOM, saving 950 jobs.
Founded in 2007, REKOM Group operates more than 200 bars, pubs, and nightclubs across Denmark, Norway, Finland, and the UK including the popular brands Pryzm and Atik. The REKOM Group in the Nordics, which is a separate group to the UK business, is unaffected by the UK transaction.
This transaction will see a transfer of 21 REKOM sites to a new operator.
The Freeths legal team was led by restructuring partner John Jeffreys, supported by banking and finance partner James Dyson, restructuring partner Oliver Jackson, senior associates Grace Millar and Thomas Childs and associates Charlotte Beddows and Jaskiran Deol.
Commenting on the deal, John Jeffreys said: “It’s been wonderful to work collaboratively with our national Freeths team and with the team at Grant Thornton led by Jon Roden and Rob Parker on this deal which has helped preserve almost a thousand jobs across the UK in a sector hard hit by current economic challenges. Highlighting our specific sector capabilities and experience in hospitality and leisure, this transaction will help to secure a future in the UK for this long-established night-time business.”
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