BC12 : Better Capital buys Walkabout
Better Capital 2012 cell has bought all the debt facilities of iNTERTAIN and its subsidiary companies. iNTERTAIN was set up in 2009 to acquire the trading assets of Regent Inns and now owns a chain of bars across the UK, most of which trade as Walkabout. iNTERTAIN made a £3m loss on revenues of £59m over the year to 2 February 2013 (this seems like a long time ago to us – not sure why the numbers to February 2014 aren’t being disclosed).
Better Capital is committing £20m to the acquisition of the debt and to finance the business going forward.