LG advises on acquisitions from hospitality and leisure operator Regent Inns plc in pre-pack administration
27 October 2009
International business law firm LG has acted for the iNTERTAIN Group, a company formed by the Executive Directors of Regent Inns plc, on its acquisition of 60 bars, clubs and restaurants from the joint administrators of Regent Inns plc (in administration), which currently trade as 'Walkabout' bars, 'Jongleurs' live entertainment/comedy venues and 'Old Orleans' restaurants.
Corporate partner Jeffrey Elway led the LG team, which included corporate assistant, Jenna Beever; corporate restructuring partner Tom Withyman; banking assistants Jane Spiers and David Arana-Morton; employment lawyer Caroline Fallon and IP lawyer Harry Karaolou.
Jeffrey said: "We are delighted to have acted for iNTERTAIN on the acquisition and financing, having acted for Regent Inns plc since before its flotation on the London Stock Exchange in 1993.
Clearly, the last couple of years have been extremely tough for the pub and late night entertainment bars market, but in what is effectively a restructuring of the business to go forward with only the more profitable units, the iNTERTAIN Group starts out as a much stronger trading entity. We look forward to continuing to work with what is clearly seen as a quality management team."
BLP acted for the joint administrators, Shay Bannon and Antony Nygate of BDO, and Linklaters acted for the Banking syndicate which provided facilities for, inter alia, the funding of the iNTERTAIN Group's acquisition.
Kimbells acted for the iNTERTAIN Group on the Real Estate side and Joelson Wilson acted on the licensing side.
Notes to editors:
- LG is a business law firm with a particular focus on entrepreneurial and growth market clients seeking to raise capital for their business ventures.
- LG's M&A team advises entrepreneurs, publicly listed companies, overseas corporations, private companies, trustees and trust corporations and other entities on acquisitions, disposals, mergers, reorganisations and strategic alliances, including limited partnerships and joint ventures.
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Jeffrey Elway
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