Fri, 18 Mar 2016 | ADMINISTRATION
A hotel developer that was creating a landmark £32 million hotel complex in Leeds has fallen into administration due to the insolvency of a linked construction group.
Oxford GB Two Ltd has appointed Sarah Bell and Philip Duffy, managing directors of restructuring company Duff and Phelps, as joint administrators. Bell and Duffy are now trying to find a buyer for the part-built development in Leeds.
The planned 14-storey hotel complex was to become part of the Hilton Hotels network and was well underway close to Leeds Arena, but work stalled in March last year when the main contractor, GB Building Solutions Ltd, and its parent company, GB Group Holdings Ltd, fell into administration.
A statement from Sarah Bell at Duff and Phelps said: "We are in discussions to seek to agree on a forward sale which would enable construction work to recommence this year.
"Until this is approved and the project is completed it is unlikely that the final return to creditors of the company will be known; however stakeholders will be kept informed of progress.”
View the latest UK businesses for sale.
An opportunity has arisen to acquire a business specialising in e-cargo bicycles manufacture in the South East.
Sale of a soft home furnishing provider, operating nationwide from a leasehold premises in the East Midlands. Currently a family ran business specialising in the sourcing and import.
This UK-based business is a leader in saunas and cold therapy, uniquely positioned at the crossroads of recovery, performance, and lifestyle enhancements.
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.