P & S Amusements Limited ("the claimants") have been the tenants of Gaiety's bar and night club, which is situated at 169 Promenade, Blackpool ("the premises") and which is on Blackpool's "Golden Mile". By an underlease dated 24 July 1991 ("the underlease"), the claimants demised the premises for a period of 20 years less 10 days to Findextra Limited ("Findextra"). On 27 January 1992, the underlease was initially assigned to Mr. and Mrs. Peter Valentine by Findextra when that company fell into financial difficulties. By an assignment dated 8 May 1998, the underlease was later assigned by Mr. and Mrs. Valentine to their company Valley House Leisure Limited ("the first defendants"). The license to assign contained the usual direct covenants by the first defendants to observe the tenant's obligations under the underlease. The second defendant is the guarantor of the liabilities of the first defendants under the underlease.

http://www.bailii.org/ew/cases/EWHC/Ch/2007/1494.html