Thu, 17 Jun 2010 | DIVISION SALE
Administrators for an East Anglian hotel chain have renewed optimism for finding buyers for the business, after successfully selling two properties in the chain’s portfolio.
KPMG have been looking for buyers for the Elizabeth Hotels chain since it filed for administration last December. Having sold the Wherry Hotel near Lowestoft and the Duke’s Head Hotel in King’s Lynn, they are confident that discussions regarding the remaining properties in the portfolio will be successful.
The chain of hotels was owned by Suffolk property mogul, Richard Cattermole, but was placed into the hands of KPMG at the end of last year because of the financial liabilities of the three component companies, Elizabeth Hotels, Elizabeth Estates and Cavendish Hotels. The portfolio consisted of 14 hotels – three of which were under third party leases – and 13 pubs.
A KPMG representative confirmed that the sale of the Wherry hotel had been completed at the beginning of June and that the deal for the Duke’s Head was completed last week.
The representative said that the mission to find buyers for the rest of the properties was ongoing, adding, “We are confident of finding buyers for the remaining properties and discussions are at various stages with potential purchasers on the remaining hotels from the group.”
Any interested parties are urged to contact the administrators.
For sale is a long-established tree surgery and arboricultural services business with an excellent reputation, serving both domestic and commercial sectors across Southern England, including the Home Counties and London.
An opportunity has arisen to acquire a mechanical engineering company specialising in the Water Industry. Benefitting from over 3 decades of trading, this business has built a solid and long standing client base comprised of prominent UK utility comp...
An opportunity has arisen to acquire a reputable IT support and development services provider with a UK-wide client base and a proven record for innovation and resilience in the constantly evolving IT sector. Throughout its 25+ year trading history,...
|
25
|
|
Apr
|
Scaffolding company Hi-Point Access raises funds following Gap acquisition | BUSINESS SALE
Sheffield scaffolding company Hi-Point Access has secured &p...
|
24
|
|
Apr
|
Malaysia's IJM buys a stake in London construction firm JRL | BUSINESS NEWS
IJM Corporation Berhad has bought a 50% stake in Borehamwood...
|
24
|
|
Apr
|
Training group Babington bought by PE-backed Knovia | BUSINESS SALE
Apprenticeship and training provider Babington has been acqu...
|
25
|
|
Apr
|
Scaffolding company Hi-Point Access raises funds following Gap acquisition | BUSINESS SALE
Sheffield scaffolding company Hi-Point Access has secured &p...
|
24
|
|
Apr
|
Red Blaze chooses employee ownership | BUSINESS SALE
Twigworth, Gloucester-based events business Red Blaze has tr...
|
24
|
|
Apr
|
Training group Babington bought by PE-backed Knovia | BUSINESS SALE
Apprenticeship and training provider Babington has been acqu...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.