The Big Five firm said yesterday it has sold all of Big Beat’s pubs and restaurants to G1 Group for an undisclosed sum.
KPMG had previously announced the selection of Finlaw 279 as a buyer for Big Beat. The buyer, a ‘shelf’ company, had awarded a management contract to the Mean Fidler Group when the deal was formally concluded.
At the time Blair Nimmo of KPMG had said: ‘We are delighted to have found a buyer for the entire portfolio.’
But this week the firm said Finlaw was ‘no longer the preferred bidder for the Big Beat business
However, G1 has not acquired Media, Tunnel and Universe nightclubs and which will continue to trade as normal until a buyer is found
Nimmo said: ‘We are delighted that the G1 group is acquiring the bulk of the portfolio in Scotland, thereby securing several hundred jobs in the hard-pressed leisure and tourism sector.’
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children