BLP advises on Regent Inns administration and sale
Berwin Leighton Paisner (BLP) advised BDO on the administration of Regent Inns Plc and a number of its subsidiaries. This involved the sale of the group’s business and assets which includes 60 bars, restaurants and clubs (plus 2 non-trading sites) to iNTERTAIN Limited. At the same time a further nine trading and three closed sites were transferred to Punch Pub Company (Trent) Limited. These transactions will protect over 2,000 jobs in total.
Regent Inns Plc traded across 80 outlets in the UK as Walkabout bars, Jongleurs and Old Orleans. The deal, which completed last week, had the support of the group’s bankers and was achieved during very challenging market conditions. Corporate partner and restructuring expert Ben Larkin led the firmwide BLP team, assisted by Ian Benjamin and Ben Jones, senior associates in the Restructuring team, Barry Gross on Real Estate and Jeremy Bark with licensing.
Commenting on the deal, Ben said: “This transaction is the latest deal the BLP restructuring team has been involved in and further demonstrates our expertise in this area. The fact that such a high proportion of jobs were saved is good news for a sector which has been badly hit by the economic climate.”
The banking syndicate were advised by Linklaters, iNTERTAIN were advised by Lawrence Graham and Punch retained its regular advisors, Slaughter and May.
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