PracticeConsultingOffers flood in for Big Beat

Offers flood in for Big Beat

KPMG Corporate Recovery has recieved more than 100 offers for Glasgow-based entertainment business Big Beat.

The receivers are now in discussions with a short list of potential buyers from the 83 parties which showed an interest and are looking to select a preferred bidder or bidders in early July.

Blair Nimmo, one of the recievers, said: ‘I am hopeful that we will have a new owner or owners in place by mid summer. All the individual outlets have continued to trade strongly during the receivership.’

Big beat went into receivership in April following a drugs scandal which shut down its London nightclub Home. At the beginning of May, KPMG set a deadline of the end of the month for offers on the business.

It had received over 500 inquiries for the business by the end of May and has had 123 offers submitted.

Links

Big Beat’s website

KPMG Online

Big Beat not beaten just yetDeadline set for Big Beat enquiries

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