Confidential Advice Line: 0800 063 9221

Begbies Traynor saves three hotels


Corporate recovery specialists Begbies Traynor in Bournemouth have sold three hotels out of administration for an undisclosed sum.

The three – important hotels in the town – have been rescued by local property and investment group Quantum.

Partners Julie Palmer and Mark Fry were appointed administrators to Bay View Court Hotel, Cottonwood Hotel trading as Inn on the Cliff, and Ocean View Hotel.

Julie Palmer said: “This was a tough deal to pull together after we had significant interest in the hotels. We are pleased that we have been able to preserve the ongoing trading of three long standing hotels in Bournemouth's central tourist zone.

“By using a multi-disciplinary approach, the Group’s restructuring and corporate finance divisions worked closely together so that we were able to save these hotels and see them continue to trade.

“This is the latest deal in a number of cases that Begbies Traynor has acted on in the hotel and leisure sector, further reinforcing our specialism in this area.”

Quantum, a multi-disciplinary property group, said it was delighted to be involved in such an exciting venture, “ensuring that Bournemouth’s vital tourism industry receives an injection of investment and creativity”.

It added: “For a long time, Bournemouth’s hotel stock has not reflected the sophisticated profile of its residents and visitors. We see this as an important opportunity to create lasting value for the Eastcliff and Bournemouth.”


About the author

Julie Palmer

Regional Managing Partner

Meet our Team of Experts

Julie is a law graduate who qualified with Price Waterhouse in 1994. Julie joined Smith & Williamson in 1997 and became a partner in 2001. With Mike Stevenson, Julie set up Middleton Partners offices in Salisbury and Southampton, both of which are now part of Begbies Traynor.

Julie is a member of the Insolvency Practitioners Association and the None Administrative Receivers Association and is a Fellow of The Association of Business Recovery Professionals. Julie deals with all aspects of Corporate Recovery and turnaround work and takes all form of personal insolvency appointments.

44 Regional UK Offices

Find your local Begbies Traynor office and speak to an adviser today.

Find your Local Office
0800 063 9221

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
0800 464 0871

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
0161 837 1700

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
Businesses Remain Resilient in the face of Brexit
Financial distress falls 6% following referendum
ONS data: 'Brexit has had no major effect on the UK economy thus far'
Read More →
 
Open Banking to Reshape the Alternative Finance Sector
CMA mandates the adoption of Open Banking by early 2018
Will see alternative lenders competing on a level playing field with dominant banks
Read more →
 
Join thousands of professionals by signing up for our updates
Analysis and Opinion from our Partners
Top Industry News
Register Now →
 

Advice you can trust

We are accredited by the following industry leading organisations

Insolvency Practitioners Association Institute of Chartered Accountants in England and Wales R3: Association of Business Recovery Professionals ICAEW Business Advice Service Turnaround Management Association ACCA (the Association of Chartered Certified Accountants) ICAS | The Institute of Chartered Accountants of Scotland

Contact the Begbies Traynor team

or Find your Nearest Office
Processing...