Thu, 15 Dec 2011 | MBO/MBI
Following the administration of Llangollen Hotels Ltd and its parent company, Global Investments Group, four hotels in Wales were placed onto the market earlier this year.
According to The Denbighshire Free Press, two of those hotels are now fast approaching a sale.
Selling agents Colliers International – who were called in in July to manage the sale of the remaining hotels by administrators KPMG – have confirmed that takeover deals for The Wild Pheasant (pictured) and Bryn Howel hotels in Llangollen are due to be completed within the next few months.
Both of the hotels have been hunting for buyers since the administration, and their imminent takeovers follow the completed deal on Bodidris Hall in Llandegla last month.
Director of Colliers International, Neil Thomson, told the newspaper, “We are hopeful we can make an announcement about deals being completed for The Wild Pheasant and Bryn Howel early in the new year.
“We are hopeful transactions will be completed successfully and can then make progress,” he went on to say.
The remaining hotel in the portfolio, the Llangollen-based Chainbridge Hotel, is still on the hunt for a buyer. “With the Chainbridge Hotel we are still encouraging people to come forward and have a look. We are still looking for a purchaser for this hotel,” Mr Thomson added.
All four hotels have continued to trade as normal whilst buyers have been sought, and the 100 staff employed across the commercial premises have all retained their jobs.
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