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Media Releases
2007

03 July
2007

Sale of Bar Budda chain

Leading UK law firm Shepherd and Wedderburn advised accountant Tenon Recovery, administrator of Fleetfern Ltd, on the sale of the Glasgow-based Bar Budda chain of themed bars and clubs to Dark Star Scotland Ltd.

Fleetfern Ltd, the company which owned the Bar Budda chain, entered into administration in July 2006.

Corporate recovery associate Fiona Paterson said: "The sale of Fleetfern Ltd was structured in such a way as to secure the employment of the Bar Budda staff going forward, and to ensure the maximum return to creditors of the company.

"The deal also involved the implementation of new debt and equity arrangements and negotiation with the landlords of Fleetfern's licensed units."

 

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