Wed, 26 Aug 2020 | BUSINESS NEWS
Liverpool-based hotel firm Signature Living has said it has secured a deal to “protect all areas of [its] business and investors” and is looking to open four new hotels, creating 500 jobs. The company, owned by Lawrence Kenwright, saw multiple parts of its business fall into administration during the coronavirus crisis.
However, it has now announced a deal with investors to refinance parent company Signature Living Hotel Ltd. In a statement, the company said: "We have decided to align ourselves with a group of our investors by creating two new companies which will house a range of assets along with our trading businesses.”
"These new companies will also be exploring funding options to buy back those assets which have been placed into administration. Put simply, this new structure will see Signature Living continue to grow, continue to deliver wonderfully unique experiences for its customers, continue to create new jobs and deliver new hotels and developments."
By mid-May,
Signature Living Hotel Ltd.’s accounts at Companies House are overdue for this year. In its most recent available accounts, to the year ended March 31 2018, the company reported turnover of £20.6 million, up from £14 million the year before, with gross profit of £14.7 million, up from £10.7 million a year earlier. It reported post-tax profits of £674,380, following post-tax losses of £5.7 million the previous year.
At the time, the company’s fixed assets were valued at £67.4 million, with current assets of £51.1 million. Its total assets less liabilities were £31.4 million, with net assets standing at £25.3 million.
Find businesses for sale here.
If you are looking for an exit, we can help!
Specialises in the provision of friendly and professional swimming classes for babies, toddlers and young children. Currently offers its services to circa 1,600 active clients, 90% of whom provide reliable, repeat business. Has a waiting list of over...
LEASEHOLD
A highly regarded travel agent which operates with two distinct divisions: holiday sales and the franchise recruitment of travel agents. Operates to an extremely high standard, with a dedicated, professional and skilled workforce, 95% of whom work fr...
RELOCATABLE
Supplies high-quality animal grooming and hair styling products for customers throughout the UK. Manufactures a range of liquid products for animals, which are sold in bulk or retail sizes for use in grooming parlours and at home.
LEASEHOLD
20
|
Apr
|
Administrators appointed as UK logistics firm collapses | ADMINISTRATION
West Bromwich-based courier and logistics firm New Generatio...
20
|
Apr
|
Company insolvencies begin to rise in March as pandemic impact shows | BUSINESS NEWS
Government figures show that UK company insolvencies rose 44...
19
|
Apr
|
Peer-to-peer lending business enters administration | DIVISION SALE
Business Loan Network, a peer-to-peer lending business, has ...
Sign up to receive our acquisition alert emails to get your FREE guide
14
|
May
|
Sixth Signature Living hotel company goes into administration | ADMINISTRATION
Signature Living Coal Exchange Limited, the company behind t...
21
|
Apr
|
Liverpool’s Shankly Hotel goes into administration | ADMINISTRATION
Liverpool’s well-known Shankly Hotel, run by Lawrence ...
03
|
May
|
Leading hotel group puts flagship properties up for sale | BUSINESS SALE
The Signature Living Group has announced that it will put it...
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