Leisure March 21, 2022

New funds raised for UK fitness business saved through pre-pack administration

The HLaw transactional team advised the buyer entity as a well-known UK fitness brand battled with insolvency and went through a ‘pre-pack’ process to save the business – immediately after the business was acquired by the buyer entity (in which management and certain key investors were shareholders) fresh funds were raised on the back of a fully verified private placement memorandum (and minority shareholders in the old company now in liquidation were given the opportunity to subscribe for warrants in the buyer company).

Humphreys Law

Deal/project: M&A

Date closed: March 2022

Space: Leisure

Other lawyers and advisors: Shoosmiths and Foot Anstey