Southport's Bliss Hotel owed more than £18m to creditors when it entered administration
New documented show that Bliss Hotel, on Southport Promenade, owed more than £18m to its creditors. The waterfront hotel remains open as a new buyer is being sought.
Parent company Waterfront Southport Properties Ltd, along with subsidiary Waterfront Hotels Ltd appointed Paul Davies and Sandra Mundy of advisory firm James Cowper Kreston to manage the administration process in October, the Echo reports. The charge holder was the primary source of funding for the two businesses. However, the charge holder said the businesses had not fulfilled their interest payment obligations, not complied with property reporting obligations and net operating income and loan to value obligations.
Other creditors include HMRC, though the administrators say the amount owed remains unclear. The joint administrators also warned that unsecured creditors "cannot expect a distribution from this estate".
Belgique Dernières Nouvelles, Belgique Actualités
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