BusinessBusiness RecoveryGT administrators appointed at property group Kenmore

GT administrators appointed at property group Kenmore

Joint administrators secure funding for 21 companies to continue trading while options are explored

Joint administrators at Grant Thornton have been appointed to 21 companies at
Edinburgh-based property group Kenmore, but the company will continue to trade
as normal.

Rob Caven and Martin Ellis have also been appointed as joint administrators
to a connected company, Kenmore Private Equity Ltd.

The co-investing, trading and development property group manages more than
£1bn of investments and has a development pipeline of £1.5bn. The firm said it
had managed to secure funding from Lloyds Banking Group to allow trading to
continue while they explore restructuring options.

“While there will undoubtedly be some uncertainty at this time our plans for
the continued trading of the Group should avoid any immediate disruption to the
funds that are owned and/or managed by the Group. Our immediate objective is
business as usual”, said Rob Caven, Partner at Grant Thornton’s Recovery and
Reorganisation practice.

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