Documents state that Admiral Taverns has been in discussions since last October over debts of £855m with Lloyds Banking Group and £106m of loan finance with a secondary banker.
Lloyds Banking Group is likely to write around £450m worth of debt off in line with Admiral Taverns earnings dropping from around £100m to just over £50m after the recession hit the performance of the company.
Read more:
http://www.morningadvertiser.co.uk/news.ma/article/84189
Showing posts with label Restructuring. Show all posts
Showing posts with label Restructuring. Show all posts
Wednesday, August 26, 2009
Sunday, August 16, 2009
Alternative Hotel Group in debt talks with Lloyds
The company behind some of Britain’s most prestigious hotels is set to open talks about a restructuring of its £1.4 billion debt pile.
Alternative Hotel Group, which owns properties such as Cameron House in Scotland and Slaley Hall in Northumberland through its De Vere chain, is to begin negotiations with its lender Lloyds Banking Group after the bank appointed Deloitte to carry out an independent review of the business.
Read more:
http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6797711.ece
Alternative Hotel Group, which owns properties such as Cameron House in Scotland and Slaley Hall in Northumberland through its De Vere chain, is to begin negotiations with its lender Lloyds Banking Group after the bank appointed Deloitte to carry out an independent review of the business.
Read more:
http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6797711.ece
