Lawrence Stephens’ work has been in the headlines this week, following our work on the All Star Lanes rescue deal. Last week, Lawrence Stephens acted on a deal involving All Star Lanes, a chain of bowling alleys with 5 branches in London and Manchester. The business, owned by All Star Leisure (Group) Limited, was sold to a Newco owned by our client Risk Capital Partners LLP as part of a pre-pack administration.
The process involved the All Star Lanes business going into administration and needing to sell their assets at a fast turnaround. The Lawrence Stephens’ team consisted of Partners Gregory Palos and Stephen Messias on the Property side, and Steven Bernstein and Solicitor Aashay Knights on the Corporate side. The team achieved a very quick turnaround, saving jobs and the All Star Lanes brand.
Partner Steven Bernstein commented:
“We are proud to have worked on this deal at such a fast turnaround. This is in great part thanks to the brilliant communication between everyone involved. Lawrence Stephens’ teams are used to completing deals within very short time frames but every deal poses its own complex challenges. Everyone’s hard work has enabled a very popular chain to be saved.”
We would like to wish Risk Capital Partners LLP the very best of luck in their new venture with All Star Lanes and extend our congratulations to all involved in a deal rescuing one of London’s brightest leisure spots.