Freeths facilitates Grant Thornton in the administration-led sale of nightlife giant Rekom UK

National law firm Freeths played a pivotal role in advising Grant Thornton as administrators of the CC Stim UK Group of companies in the sale of Rekom Group's UK branch, Europe's largest nightlife company. This strategic move has safeguarded 950 jobs in the struggling sector.

Founded in 2007, Rekom Group boasts a significant presence with over 200 bars, pubs, and nightclubs spread across Denmark, Norway, Finland, and the UK, featuring renowned brands such as Pryzm and Atik. Notably, the Rekom Group in the Nordics remains a distinct entity unaffected by the UK transaction.

The transaction involved the transfer of 21 Rekom sites, marking a crucial step in the restructuring process. Freeths' legal team, led by restructuring partner John Jeffreys, included key members such as Oliver Jackson, James Dyson, Thomas Childs, Grace Millar, Charlotte Beddows, and Jaskiran Deol.

John Jeffreys reflected on the collaborative effort, stating, "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." He emphasized the positive impact of the transaction, preserving nearly a thousand jobs in the UK's hospitality and leisure sector, which has been severely affected by current economic challenges.

Highlighting Freeths' sector-specific capabilities and extensive experience in hospitality and leisure, this transaction not only secures the future of Rekom's longstanding market-leading brand in the UK but also exemplifies resilience in the face of industry-wide adversities.