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Von Essen Hotels In Administration
The Von Essen Group’s banks have placed the hotel business into administration.
TheVon Essen Group’s banks have placed the hotel business into administration,Financial Newsreports.BarclaysandLloydsBanking Grouphave namedErnst & Youngas administrators after the U.K. hotel group failed to make interest payments on debts of more than £250 million.
Von Essen owns 28 hotels in the U.K. and France, including theRoyal Crescent Hotelin Bath andAmberley Castlein Sussex. The properties and assets were last valued at around £430 million, addsTheTelegraph.
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