(Well, the venture capitalist who owns Everest...)

The company which owns five Jongleurs comedy clubs has been sold in a £20million deal.

Intertain, which also owns 26 Walkabout Australian-themed pubs and six other bars, has been sold to venture capitalist fund Better Capital.

The comedy clubs involved in the deal are those formerly known as Highlight in Camden, Watford, Reading, Leeds and Birmingham.

Intertain was set up in 2009 following the collapse of Jongleurs’ former owners Regent Inns in a controversial ‘pre-pack’ deal that kept the company trading but at the expense of its creditors.

Better Capital specialises in turning around troubled businesses. It also owns fashion brand Jaeger, courier firm City Link and Everest double-glazing.

Speaking to the Sunday Telegraph, venture capitalist Jon Moulton said: ‘I’m not going to be making radical changes to the company – making it for teetotallers and serving just hot drinks. As for Jongleurs – maybe I’ll just improve the quality of its jokes.’

The newspaper reported that the ‘neglected’ Walkabouts were likely to be refurbished, but made no further mention of Jongleurs.

The Jongleurs brand comprises the five Intertain venues and others run by Jongleurs Comedy Ltd, with the latter company booking comedians into all the sites. JCL has been criticised for being very slow in paying its performers, although anecdotal evidence suggests the situation getting better, albeit very gradually. Comedians playing Intertain venues were paid direct by Intertain.

Published: 9 Nov 2014