Tue, 29 Nov 2011 | ADMINISTRATION
The administrators that have been called in by popular northern hotel company, Venture Hotel Group, have said that they are confident of finding buyers for the company's three hotels.
Russell Cash and Lindsey Cooper, from the Manchester office of recovery specialist Baker Tilly, said that they had been appointed after the company's turnover of £2 million became insufficient to service its debts.
Venture is the company behind Salford's Monton House Hotel, the Paddington House Hotel in Warrington, and the Comfort Inn in Chester. Mr Cash said that they were now looking to sell the sites on, either individually or as a group. They have appointed the managing agents Onecall Hospitality to continue trading the hotels as normal in the meantime.
"The business has not been able to generate sufficient income to meet its cost base," Mr Cash explained. "Though I am hopeful we will get some expressions of interest this side of Christmas, realistically it is likely to be next year before serious discussions with interested parties take place."
Monton House Hotel has 61 rooms, conference facilities, a restaurant and a bar, while Paddington House Hotel has 37 rooms, conference facilities, a restaurant and a bar and the Comfort Inn features 31 rooms.
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LEASEHOLD
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