G1 Group acquires Big Beat portfolio

Glasgow-based G1 Group has emerged as the buyer for Big Beat's portfolio of pubs and restaurants.

Big Beat, founded by Ron McCulloch, collapsed in spectacular fashion earlier this year.

It is believed licensing and drug-related problems at its flagship venue Home, in London's Leicester Square, led to the group's capitulation.

Receiver KPMG Corporate Recovery was appointed to find a buyer for the business.

Regent Inns recently took the leasehold on number one Leicester Square and it had been widely reported that Mean Fiddler had bought the rest of the group's 21 outlets, through its takeover vehicle, Finlaw 279.

But it was announced this week that Mean Fiddler is no longer the preferred buyer and that G1 Group has acquired the bulk of Big Beat's business, namely its Scottish outlets. The financial details have not been disclosed.

G1, headed by nightclub boss Stefan King, was recently voted the Scottish licensed trade Multiple Operator of the Year for its variety of clubs and restaurants, including Corinthian and Arta (pictured)​.

Related stories:​

Regent Inns snaps up Leicester Square superclub (7 November 2001)

Big Beat buyer signs on the dotted line (11 October 2001)

Big Beat buyer abandons plan to join stock market (23 August 2001)

Big Beat pubs to be run by Mean Fiddler Group (20 August 2001)

Home nightclub is put on the market (10 May 2001)

Home licence reinstated (26 April 2001)

Big Beat in receivership after drugs crackdown (11 April 2001)

London club Home loses licence (05 April 2001)

Big Beat boss fights Home revocation (31 March 2001)