950 jobs saved as law firm advises on sale of nightlife giant

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 Europe’s largest nightlife company Rekom Group, 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 is a separate group to the UK business which is unaffected by the UK transaction.

This transaction will see a transfer of 21 Rekom sites.

The Freeths legal team was led by restructuring partner John Jeffreys (pictured), supported by restructuring partner Oliver Jackson, banking and finance partner James Dyson, senior associates Thomas Childs and Grace Millar and associates Charlotte Beddows and Jaskiran Deol.

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-standing market leading brand.”