Tue, 02 Aug 2011 | ADMINISTRATION
Hotel Verta, one of the last major assets of colourful Von Essen entrepreneur Andrew Davis, has followed the collapsed hotel chain into administration.
Hotel Verta and Verta Properties - the companies behind the new hotel project at Battersea Heliport - have seen administrators appointed from Ernst & Young. The news has come amid growing concerns about the accounting standards at Von Essen, which went into administration in April, owing £250 million.
The administrators are currently in negotiations with Christie & Co about marketing Hotel Verta for sale as a going concern.
Ernst & Young's Maurice Moses, said, "The administrators will continue to trade the hotel while looking to sell the business as a going concern.
"The joint administrators are in the process of agreeing terms with Christie & Co and are very much looking forward to working with them in respect of achieving a going concern sale of the hotel."
Hotel Verta was launched last September, offering 70 luxury rooms in a new-build development next to the busy heliport. It was one of four properties that did not form part of the Von Essen hotels administration. A report into the collapse of Von Essen Hotels has been submitted to City of London Police, who are looking into how and where some of the company's debt financing was spent.
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