Deltic bought out of administration
Rekom UK has bought the majority of Deltic out of administration. The move sees Rekom UK take over 42 bars and clubs located across the UK.
Rekom UK has bought the majority of nightclub operator Deltic out of administration. The move sees Rekom UK take over 42 bars and clubs located across the UK, a move which could save more than 1,300 jobs.
Rekom Group is the largest nightlife group in the Nordics and operates more than 130 bars and clubs in Denmark, Finland and Norway. Since 2018, it has been backed by the Danish private equity firm CATACAP.
The Nordic group sees the acquisition of Deltic as a major stepping-stone into the UK nightlife industry and as part of its ambition to become a leading nightlife operator in Europe.
“We have been looking at the UK market for the past few years as part of our ambition to become one of the largest pan European night life groups," says Rekom Group CEO Adam Falbert. "When the opportunity came to take over a strong and well-run group like Deltic, it was a question of finding the right set-up to make it happen. We see a huge potential in the UK market for late night bars and clubs and are certain that the industry will bounce back as soon as Covid-19 restrictions are lifted.”
Rekom will take immediate control over the 42 Deltic bars and clubs. However, due to Covid-19 restrictions, all the clubs will remain closed. The time during this period will be spent on integrating the former Deltic bars and clubs into the Rekom Group organisation.
“We were – through no fault of our own – put in a situation where I was watching our business fall apart," says Peter Marks, Deltic CEO and now CEO at Rekom UK. "It was having huge personal consequences for our many fantastic employees whom we have had to let go. With Rekom we get an owner that knows the industry, who will reopen most of the venues we have had to close down and are ready to invest in developing our position in the UK. So, with that in mind, it was an easy choice to say yes to become part of the future of Rekom.”