Tue, 08 Jun 2010 | ADMINISTRATION
An exclusive Irish boutique hotel has gone into receivership – the latest victim of the nation's ailing tourism industry.
Lisloughrey Lodge, the country house hotel adjacent to Ashford Castle in Cong, Co Mayo, had been backed by the businessmen Paddy Kelly and Niall McFadden, but called in the receivers this week.
Ulster Bank has taken possession of the business, with a €10 million exposure to the hotel. It is continuing to trade and will keep all of its current bookings. Accounting firm KPMG has been installed as the receiver and meeting is be scheduled later this month for all creditors, when a liquidator will be appointed.
The current management team – headed by Marc MacCloskey and Hilde Stuiver – will remain in place managing the business, having secured the property's leasehold.
The 28-bedroom was historically the homestead for the manager of Ashford Castle, but was converted into a hotel in 2007, owned an assortment of tax break investors, including Niall McFadden and members of the Kelly family. It boasts a further 22 suites and a spa, overlooking Lough Corrib.
It comes at the end of a brutal two weeks for the Irish hotel trade, with receivers also having been called in for the Johnstown House Hotel & Spa in Enfield, Co Meath, and the four-star Killeshin Hotel in Portlaoise, Co Laois.
Exceptionally successful owner-operated company located in central Scotland, specialising in a niche domestic refurbishment sector with remarkable growth. This specialist operation has experienced extraordinary trading growth, driven by a tight-knit,...
An exciting opportunity to acquire a leading national commercial cleaning service provider with a strong focus in the South-East of the UK. The company’s head office is located at offices in the SE of England.
The company is a provider of residential care homes for young people with behavioural, emotional, and social difficulties resulting from early childhood trauma and adverse life experiences. Services provided by the business are flexible and dynamic,...
LEASEHOLD
|
28
|
|
Nov
|
Powertrain specialist Lancereal drives forward with MBO | MBO/MBI
A four decades strong powertrain specialist has undergone a ...
|
27
|
|
Nov
|
Debt collectors BPO take out loan to buy rival | BUSINESS SALE
Ayrshire-based debt recovery firm BPO Collections has receiv...
|
27
|
|
Nov
|
Brighton i360 looking for new owners | ADMINISTRATION
The company behind Brighton’s i360 viewing pod has fil...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.