Tue, 21 Apr 2020 | ADMINISTRATION
Liverpool’s well-known Shankly Hotel, run by Lawrence Kenwright’s Signature Living Group, has gone into administration, citing the pressure put on its business by the coronavirus pandemic.
The 83-bedroom hotel, named after legendary Liverpool FC manager Bill Shankly, was put on the market for £40 million last year, but a deal did not materialise.
Matthew Ingram and Michael Lennon of Duff & Phelps have now been appointed joint administrators of the hotel’s management company Signature Shankly, saying they will work with directors to explore “the future trading outlook of the hotel”.
The hotel, currently closed in line with coronavirus lockdown restrictions, is expected to reopen for business once the lockdown is lifted, with a statement saying that all wedding, events and accommodation bookings would be honoured and that new bookings would be taken.
Joint administrator Michael Lennon said: Michael Lennon said: “The hospitality industry as a whole has seen increased pressures in recent years and has now been instantly hit incredibly hard by the Covid-19 pandemic. As a result, the Shankly is temporarily closed, Management’s expectation is that once the lockdown is lifted trading will continue as normal.”
The hotel, established in 2015, has 59 aparthotel-style bedrooms, as well as a bar and restaurant, two event suites, two rooftop terraces and an underground car park.
Signature Shankly’s last full accounts were made up to the year ending March 31 2018. In that period, the company registered a loss of £568,343, down from £663,115 profit the year before. At that time, the company had fixed assets of £2.7 million, current assets of £11.1 million and net assets of £1.6 million.
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