Travelodge to sell six hotels

Wed, 05 Sep 2012 | BUSINESS SALE

Travelodge is putting six West Midlands hotels on the market in a bid to restructure and secure its future.

The firm confirmed that Birmingham Fort Dunlop, Birmingham Walsall and Birmingham Maypole are all on the market, along with three further hotels in Redditch, Wolverhampton Central and Coventry.

In addition to selling off some of its properties, Travelodge is also asking a number of its UK landlords to vote on a plan that would see rents slashed. It is set to offload a total of 49 hotels to other operators, while 109 landlords will be asked to accept a 25 per cent cut in rent.

The plans are all part of a CVA, which is designed to help the company exit poorer performing leases and cut down its crippling debt burden. However, 75 per cent of creditors have to vote through the CVA before it can be instigated.

The debt restructuring, if agreed, will see £476 million of shareholder loan notes written off, along with the repayment of a further £71 million bank loans and the extension of the maturity on the remaining £329 million of debt until 2017.

Share this article

Latest Businesses for Sale

Supply Teacher Agency
Wales, UK

Excellent supply teacher agency based in South Wales. Highly professional and experienced. Substantial database of active/inactive teachers. Minimal overheads. Impressive financial profile. Vast scope for future growth. Offers invited.

Asking Price: £375,000
Turnover: £770,061


Sicilian Restaurant
Surrey, South East, UK

Treasured Sicilian café/restaurant idolised in the area for their charming décor and delectable food. This is a superb opportunity for the right buyer to walk into a fully operational business with loyal customers and a quaint restaurant floor. Ideal...

Asking Price: £200,000
Turnover: £350,000


Food Wholesaler
East London, South East, UK

Well-established, with excellent reputation. Operates throughout central London and within the M25. High-quality products and service. Warehouse and offices within a good location. 148 active customers. Huge scope for growth. Offers invited.

Asking Price: £579,000
Turnover: £2,390,000


View more businesses for sale

News Search

Latest News


Prescription start-up acquired by healthcare giant for undisclosed sum | BUSINESS SALE

A UK start-up company that helps individuals manage their su...


Meat and poultry wholesaler goes under - business assets up for sale | ADMINISTRATION

Financial difficulties at a London-based meat and poultry di...


Administrators called in for West Midlands contractor | ADMINISTRATION

A contractor based in Aldridge, West Midlands has collapsed ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News


Offers fall short in £1 billion Travelodge hotel auction | BUSINESS SALE

The estimated £1 billion auction of budget Travelodge ...


Jurys Inn owners review portfolio | BUSINESS SALE

The Business Sale Report understands that Rothschild has bee...


Travelodge looks at options including CVA | ADMINISTRATION

The owners of Travelodge are considering placing the hotels ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources