Seaham Hall goes into administration


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Von Essen Hotels goes into administration


Thursday, April 21, 2011


Rob Gill and Chris Gray



Luxury hotel chain von Essen went into administration today after its holding company missed payments on loans worth £250m.

The company runs 28 properties in the UK and one hotel in France. They include the Cliveden in Berkshire, Seaham Hall in County Durham, Amberley Castle in West Sussex and The Royal Crescent in Bath. All properties are continuing to trade normally.

Ernst and Young were appointed as administrators for the holding company, von Essen Hotels Ltd, after they were called in by Barclays and Lloyds banks.

The banks took action after the the holding company breached its banking covenants by failing to meet interest payments on £250m worth of borrowing.


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They were talking about extending it just a few weeks ago if I remember
correctly - class spa day there if you ever get the chance
 
Von Essen Hotels goes into administration


Thursday, April 21, 2011


Rob Gill and Chris Gray



Luxury hotel chain von Essen went into administration today after its holding company missed payments on loans worth £250m.

The company runs 28 properties in the UK and one hotel in France. They include the Cliveden in Berkshire, Seaham Hall in County Durham, Amberley Castle in West Sussex and The Royal Crescent in Bath. All properties are continuing to trade normally.

Ernst and Young were appointed as administrators for the holding company, von Essen Hotels Ltd, after they were called in by Barclays and Lloyds banks.

The banks took action after the the holding company breached its banking covenants by failing to meet interest payments on £250m worth of borrowing.
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a mate of mine is getting married in the Cliveden in september. Ooooops:lol:
 
f***ing hell, imagine if we couldnt get sightings of players at Seaham Hall or show our arses in Joplings window, would completely ruin transfer windows :cry:
 
Spoke to a mate up there he says its buisness as usual was just looking at there website still offering packages etc so hopefully it will carry on
 
Waxon said:
Spoke to a mate up there he says its buisness as usual was just looking at there website still offering packages etc so hopefully it will carry on

Not that I have any insider information or owt, but the banks will probably start with a restructure package, can't imagine being able to refinance £250m of hotel debt easily in the current market.
 
Seaham Hall - the place that stated their location on their website as '20 minutes from Newcastle' (by helicopter??) and completely ignored their nearest city.

club should buy it

Newcastle United? They're in enough debt already.
 
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