Grant Thornton pockets £1m in Esporta sale saga

Adminstrators ask for extra year in attempt to sell Esporta

Written by Kevin Reed

Administrators from Grant Thornton have asked the courts for another year to sell Esporta's parent companies as the firm's fees climbed past £1.3m.

Total professional fees for the last year reached £2.6m including lawyers and investment bank fees.

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Grant Thornton has asked for the administration extensions of Bell Leisure Investment I and II to 13 August 2009, to enable it to sell Esporta's 55 leisure centres.

Advisers are looking to pay off main creditor Société Générale to the tune of £330m.

Grant Thornton's fees came from 3,926 hours' work, at an average of £331 per hour, reported The Telegraph.

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