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 |