The Rank Group is the UK’s leading leisure and entertainment provider and a member of the FTSE-250 with an annual turnover of £2 Billion.
Rank Leisure Ltd. was responsible for the company’s 100+ nightclubs, theme bars and multi-leisure operations. I transferred to the company upon the acquisition of Mecca Leisure plc by Rank in 1990, itself soon after Mecca’s acquisition of Pleasurama plc in 1989 - so by necessity my role and responsibilities were fluid.
During Mecca’s acquisition of Pleasurama, my role entailed:-
- Undertaking due diligence - reviewing the financial performance of business units; reviewing property leases and purchasing and employment contracts to determine potential acquisition liabilities; evaluating the acquired estate's technology profile; estimating capital expenditure requirements, etc.
- Helping integrate the acquired business - a similar role to when Rank acquired Mecca - by:-
- Closing the finance department - making staff redundant, transferring assets and records and finalising the acquisition accounts.
- Delivering staff training in finance and accounting.
- Agreeing budgets.
- Implementing an EPOS ‘roll-out’ plan.
- Providing visibility on acquisition provision status.
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During Rank’s bid for Mecca, I joined Mecca's defence team with responsibility for:-
- Co-ordinating revisions to group financial forecasts.
- Reviewing alternative financing options with the Group FD and external advisors.
- Drafting internal communiqués to keep staff informed.
- Project managing the Monopolies and Mergers Commission (MMC) submission for bingo and holidays by:-
- Meeting with divisional teams to determine the extent of anti-competitive issues.
- Directing the consultants responsible for market research and information gathering.
- Directing corporate lawyers during the development of the final submission document.
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Between acquisitions my remit involved:-
- Managing a department of nine staff.
- Providing analysis and support to senior operational management.
- Improving financial systems and controls.
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Whilst at Mecca, I was promoted to Corporate Analyst from Commercial Manager.
Personal Achievements:-
Successfully adapting to continuously changing circumstances and work demands over an extended period of time and over the course of two major acquisitions, imposing sustained pressure on my personal fortitude and professional capabilities.
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