Thu, 29 Jul 2010 | ADMINISTRATION
A hotel company has been placed into administration for the second time. Callbridge Hotels, which has two properties in Leicestershire and Somerset, is now under the control of administrators at Deloitte, who hope to sell the group as a going concern.
Prior to being placed into administration for the first time, the company ran nine former Folio Hotels.
Callbridge currently operates the 112-bedroom Redwood Hotel & Country Club near Bristol, as well as the 48-bedroom Westfield Hotel in Blaby, Leicestershire, both of which are former Folio properties.
Both hotels continue to trade although it is understood that they will no longer be managed by Bespoke Hotels, which was running them as part of a package of 13 ex-Folio hotels which were split between three different owners.
Lee Manning, partner in the reorganisation services practice at Deloitte, said, "The hotels continue to trade as normal while we seek interested parties to acquire the business as a going concern.
“The business faced high property lease costs inherited from the peak of the property market, which, coupled with the difficult economic climate and reduction in discretionary spending, has resulted in poor trading and, ultimately, the company's insolvency," he said.
The administrators added that from the initial interest they had received, a sale was anticipated 'shortly.'
This is a unique opportunity to acquire two well-established B2B companies operating across multiple sectors throughout the UK, boasting strong client relationships and secure contracted revenues poised for further expansion.
LEASEHOLD
This is a unique opportunity to acquire a prominent company in a specialist sector with a high barrier to entry, offering integration potential and a cash-generative model with repeat revenue.
This business presents an enticing opportunity with established relationships with blue-chip organisations globally, a strong client retention rate, and the potential for relocation.
|
06
|
|
May
|
Listed Nottinghamshire hotel on the market at £4.2m | COMMERCIAL PROPERTY
The West Retford Hotel, an 18th century manor house hotel in...
|
06
|
|
May
|
UK administrations update: April 29 – May 6 | ADMINISTRATION
Since our last update, the following businesses have been co...
|
06
|
|
May
|
Insurance broker secures funding and announces client book acquisition | BUSINESS SALE
Delta Corporate Risk, an insurance broker headquartered in M...
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.