Thu, 10 Feb 2011 | DIVISION SALE
Two hotels in Norfolk and Suffolk have been saved from the administration of their parent company after being swiftly bought up by a rival hotel group.
The Ramada hotels in King's Lynn and Bury St Edmunds were snapped up by Akkeron Hotels Group just days after their parent company, Butterfly Hotels, entered administration. The hotels will bolster Akkeron's healthy portfolio of 26 hotels nationwide and are part of a deal that takes in 10 other properties across the UK, formerly operated by Butterfly.
The sale was orchestrated by the company's administrators, Begbies Traynor, who said that the deal saved more than 200 jobs across the UK and would allow the Butterfly hotels to continue trading without interruption.
Akkeron's sales and marketing director, Nick Greaves, said that the decision to include the two Ramada hotels in the deal was not a difficult one.
"[They] are good solid businesses that were hampered by the debt of their parent company and we have been able to act quickly to safeguard their future," he explained. "From the customer's perspective, it will be business as usual, but the management will benefit from the support of a wider group and the businesses will have the funding required to trade properly."
He said that the only changes that the deal would prompt would be steady improvements to the hotels' service and facilities.
Presenting to the market this bathroom design and supply specialist established in 2019 and located in Bolton, Lancashire.
Vinyl graphics and signwriting business with excellent brand reputation and over 5000 customers on file. Selling due to owner desire to do something else after 10 years in the business.
The carpet centre has been trading since 1990 and has built up an outstanding reputation in both the domestic and commercial marketplace. The business boasts a showroom for customers to browse a large selection of flooring from many suppliers, a larg...
LEASEHOLD
02
|
May
|
Vehicle recovery firm rescued with pre-pack sale | BUSINESS SALE
A vehicle recovery and maintenance business has been acquire...
01
|
May
|
Testing technology firm acquired at 3.5x revenue | BUSINESS SALE
MK Test Systems Limited, a Somerset company that designs and...
01
|
May
|
Portfolio of 24 northern pubs acquired by Punch Pubs & Co | COMMERCIAL PROPERTY
A portfolio of 24 pubs across the North East and Yorkshire h...
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
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.