Restaurant saved from closure in just one week
Added by Love Business East Midlands | 7 December 2022
UPDATED: 7 December 2022
Leading law firm's fast service saves Nottingham restaurant
A RAPID turnaround and a strong client relationship proved essential for local law firm Nelsons, allowing a well-known restaurant to be acquired by another established name in the city’s hospitality scene before closure.
In just one week, Nelsons’ commercial property team ensured that Masala Junction was acquired by the reputable restauranteurs behind MemSaab, not only saving the business but also all 12 existing jobs.
Riaz Dudhia, partner and head of commercial property at Nelsons who worked on the deal, said:
“The acquisition of the Masala Junction business, its assets and property, really demonstrated what can be achieved through an established client relationship. We were working to achieve a very tight completion date so, not only did we need excellent communication with all parties, but we also needed to pull on the resources across the firm, including contributions from the corporate and real estate team.”
The deal had been agreed just a few days before the intended closure of Masala Junction so all legal due diligence and the transaction had to be completed as soon as possible, to preserve the good will of the business and to protect those employed.
Amita Sawhney, owner of MemSaab and Masala Junction, said:
“It was important to me that we were able to reopen quickly and retain all staff. The speed at which this acquisition took place certainly made it quite unique and I'm grateful to Nelsons for being able to guide us through the process smoothly.”
Nelsons, which has offices in Nottingham, Leicester and Derby acted on behalf of purchaser and the new tenant Axiom Ventures.
Masala Junction, located on Mansfield Road in Nottingham, built a strong reputation after winning the Best Independent Neighbourhood Restaurant at the 2019 Nottingham Restaurant & Bar Awards and the Best Indian Restaurant at the 2018 Nottinghamshire Food & Drink Awards. Mrs Sawhney also owns fine dining Indian restaurant MemSaab in Nottingham city centre which won Best Dining of the Year in the Midlands at the 2021 Asian Food and Restaurant Awards.
For more information on Nelsons’ commercial property department, please visit www.nelsonslaw.co.uk/commercial-property or call 0800 024 1976.
Latest News
