Mon, 12 Dec 2011 | BUSINESS SALE
A £45 million buyout deal has saved stricken nightclub operator, Luminar, which fell into administration in October.
The company has been bought by leisure industry specialists, Peter Marks, Alex Geffert and Joe Heanen, in a deal that secures the future of more than 3,000 jobs in some 75 branches of Lava & Ignite, Oceana and Liquid clubs throughout the UK.
The Business Sale Report covered the news of the administration in October, when the company collapsed under debts of around £140 million, with more than £80 million owed to banks.
Mr Marks said that Luminar had a “solid core business”, but that like many companies in the sector, the difficulties of the economic downturn had proven too burdensome.
“The bulk of the estate is performing well, as are other privately owned club and bar businesses,” Marks explained. “Luminar has a lot of good people and I am certain that with hard work, the right financial structure and an investment programme the company can look forward to a great future.”
It is thought that the three new owners have plans to refresh and renovate many of the venues in the coming year.
An established, award-winning care home with nursing, that is located in a popular East Midlands town and has come to market for the first time so that our client can retire.
For sale a lucrative portfolio of residential care homes conveniently clustered in the Northwest of England, offering residential and dementia care.
A profitable care home with nursing located in an East Midlands town. Well-presented and extended accommodation with 57% of the ground floor bedrooms being ensuite.
03
|
May
|
Three Aberdeen legal firms merge to form all-service provider | MERGER
Three prominent Aberdeen legal businesses have merged to for...
03
|
May
|
BGF-backed asbestos services firm makes third acquisition | BUSINESS SALE
Environmental Essentials, a specialist asbestos services fir...
03
|
May
|
Logistics firm acquires pair of Derbyshire businesses | BUSINESS SALE
A logistics firm headquartered in Preston has acquired a pai...
15
|
Jan
|
Hawk Plant enters administration | ADMINISTRATION
The Shropshire company, that has previously undertaken landm...
06
|
Nov
|
Butcher chain falls into administration | ADMINISTRATION
Yorkshire-based butcher chain Crawshaw has fallen into admin...
05
|
Oct
|
Poultry producer put up for sale | BUSINESS SALE
Banham Poultry, based in Attleborough, Norfolk has been put ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.