BusinessBusiness RecoveryGrant Thornton pockets £1m in Esporta sale saga

Grant Thornton pockets £1m in Esporta sale saga

Adminstrators ask for extra year in attempt to sell Esporta

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.

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
.

Further reading:

Read
The Telegraph’s story

Scottish firms preparing for
insolvency boom

Related Articles

UK votes to leave EU – accountancy profession reacts

Accounting Firms UK votes to leave EU – accountancy profession reacts

1y Fraser Simpson, Reporter
Sir Phillip Green shifts blame for BHS sale on to advisers Grant Thornton, Olswang and Goldman Sachs

Accounting Firms Sir Phillip Green shifts blame for BHS sale on to advisers Grant Thornton, Olswang and Goldman Sachs

2y Richard Crump, Writer
Due diligence on BHS 'extensive' GT partner tells MPs

Accounting Firms Due diligence on BHS 'extensive' GT partner tells MPs

2y Chris Warmoll, Writer
Insolvency Service to probe BHS director behaviour

Business Recovery Insolvency Service to probe BHS director behaviour

2y Chris Warmoll, Writer
D-Day for BHS CVA vote

Accounting Firms D-Day for BHS CVA vote

2y Chris Warmoll, Writer
BHS landlords query long-term future of distressed retailer

Business Recovery BHS landlords query long-term future of distressed retailer

2y Chris Warmoll, Writer
KPMG prepares CVA for beleagured BHS empire

Business Recovery KPMG prepares CVA for beleagured BHS empire

2y Chris Warmoll, Writer
Disgraced IP Kiran Kumar Mistry jailed

Business Recovery Disgraced IP Kiran Kumar Mistry jailed

2y Chris Warmoll, Writer