Carmelite Hotel rescued from administration saving 35 jobs

Carmelite Hotel rescued from administration saving 35 jobs

10/02/2020


It comes after Leonard Curtis Business Rescue and Recovery appointed joint administrators of Carmelite, operators of the Carmelite Hotel

Some 35 full-time jobs have been saved at the Carmelite Hotel in Aberdeen following a pre-pack administration sale, led by business recovery specialists Leonard Curtis.

As well as retaining the entire workforce, Concordia Hospitality Limited has also acquired all of the assets in the sale.

The sale was completed with the help of a team of advisers from Edinburgh-based Lindsay Law Firm, hotel specialist accounting firm Auri Basu and hotel management and consulting firm New World Hospitality.

Jas Thind, director of Concordia Hospitality, said: “From the very first discussions, Carmelite Hotel seemed to be an excellent fit for the business as the hotel is locally very popular for its food and beverage offerings along with the trendy accommodation offerings.”

It comes after Leonard Curtis Business Rescue and Recovery Glasgow appointed Michelle Eliot and Stuart Robb as joint administrators of Carmelite, operators of the Carmelite Hotel, on 31 January 2020.

Immediately following the administration appointment, the hotel’s business and assets, including the 53-bedroom Carmelite boutique hotel, located in Aberdeen’s Merchant Quarter, and the Carmelite brand, were sold as a “going concern” to Concordia Hospitality Limited.

Elliot said: “Unfortunately, the business experienced a significant reduction in turnover over the last two years – principally due to the downturn in the oil and gas sector – which resulted in cash flow difficulties.

“However, I am pleased to confirm that, immediately after our appointment, a sale of the business and assets of the hotel was concluded.”

Leonard Curtis Business Rescue and Recovery is part of Leonard Curtis Business Solutions Group.

 


Share this story


“Since I started managing VIP and internal trade visits 1.5 years ago, Key Reservations has proved itself to be a fantastic resource and lifeline. Key are on top of the latest hotel openings and renovations, so I can rest assured our international clients are in good hands when visiting our brand homes. I manage hundreds of corporate events, large and small scale, and I can always rely on delegating to Key when I need help sourcing availability and rates from a number of trusted venues or accommodation. If there is ever an afterhours last-minute issue, there is always someone from Key who is on call that can be contacted when in need. Thank you always Ian and the rest of the Key Reservations Team.”