Tue, 29 Nov 2011 | ADMINISTRATION
The administrators that have been called in by popular northern hotel company, Venture Hotel Group, have said that they are confident of finding buyers for the company's three hotels.
Russell Cash and Lindsey Cooper, from the Manchester office of recovery specialist Baker Tilly, said that they had been appointed after the company's turnover of £2 million became insufficient to service its debts.
Venture is the company behind Salford's Monton House Hotel, the Paddington House Hotel in Warrington, and the Comfort Inn in Chester. Mr Cash said that they were now looking to sell the sites on, either individually or as a group. They have appointed the managing agents Onecall Hospitality to continue trading the hotels as normal in the meantime.
"The business has not been able to generate sufficient income to meet its cost base," Mr Cash explained. "Though I am hopeful we will get some expressions of interest this side of Christmas, realistically it is likely to be next year before serious discussions with interested parties take place."
Monton House Hotel has 61 rooms, conference facilities, a restaurant and a bar, while Paddington House Hotel has 37 rooms, conference facilities, a restaurant and a bar and the Comfort Inn features 31 rooms.
This unique opportunity involves acquiring a company renowned for generating reliable, recurring income through Repeat Waste Stream contracts with major utility providers. With a strong client base and positioned in a growing market driven by environ...
In a prime location, this freehold business opportunity includes a detached, well-equipped bakery factory along with a retail outlet and cafe, all part of a family business with a century of trading history.
Established in key industries like power generation and rail, this company offers specialised electrical and engineering services across the UK and Ireland, boasting strong relationships with blue-chip clients and a reliable income stream.
01
|
May
|
Cybersecurity firm Brigantia bought by European peer | BUSINESS SALE
North Yorkshire cybersecurity distributor Brigantia Partners...
01
|
May
|
Historic pottery company Moorcroft goes out of business | ADMINISTRATION
The directors of 128-year-old Moorcroft Pottery have announc...
01
|
May
|
McCann and Partners undergoes an MBO | MBO/MBI
A team of five directors at South Wales engineering and buil...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.