Leisure group restructuring

Year 2009
Company Regent Inns plc and iNTERTAIN Ltd
Sector Leisure – bars, restaurants and comedy venues
Ownership Plc was delisted. Through the restructuring ownership moved to bank lenders and the management team.
Icknield role Assisting development and implementation of the operational and financial restructuring.
Status at start of project The group was loss making and cash negative. The group also had substantial contingent liabilities under leases of bars which had been sold.
Icknield team Steve Smith, Shahin Gulamali, Jaco van Niekerk and Dorothy Szulc
Key achievements All loss making sites and all contingent liabilities under assigned leases removed from the on-going businessRapid solution to reduce pre restructuring losses

Creating a cash positive group immediately after restructuring

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