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Deltic had filed a notice of intention to appoint administrators​ and had been seeking a rescue deal after announcing its intention to sell in October.

Rekom UK is expected to merge with Rekom Group when Covid-19 restrictions are lifted from the night-time sector and keeping current Deltic CEO Peter Marks in this role as Rekom UK as the merge takes place.

Nordic-based Rekom Group operates more than 130 bars and clubs in Denmark, Finland and Norway and since 2018, has been backed by Danish private equity firm Catacap.

Huge potential

Rekom Group CEO Adam Falbert said: “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 nightlife groups.

“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 huge potential in the UK market for late-night bars and clubs and are certain the industry will bounce back as soon as Covid-19 restrictions are lifted.”

Rekom stated that Marks will stay on as CEO while a number of the management team will remain in their current roles.

Marks said: “When Rekom emerged to buy us out of administration I was really happy. We were – through no fault of our own – put in a situation where I was watching our business fall apart. 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.”

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