UK - RCapital backs acquisition of Helena assets
Turnaround specialist RCapital has backed the company voluntary agreement (CVA) of troubled nightclub operator Helena Leisure Group.
The deal will see the firm invest alongside management to acquire 28 of Helena's popular bars and nightclubs, rescuing around 350 jobs. RCapital reportedly put in £800,000 in exchange for a 26% stake in the newco.
Scotland-based Helena Leisure operates bars such as Jumpin Jaks, 3D, Savoy, Mr. G's and Viennas.
The 28 bars and clubs were acquired from 3D Entertainment Group.
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