BusinessBusiness RecoveryE&Y call police to von Essen administration

E&Y call police to von Essen administration

E&Y administrators called police regarding loan taken out prior to company's collapse

ADMINISTRATORS from Ernst & Young have contacted City of London Police over accounting irregularities at collapsed hotel chain von Essen.

Alan Bloom, Chris Marsden and Angela Swarbrick from Ernst & Young were appointed joint administrators to holding company von Essen Hotels on 20 April. There are 28 private hotels in the UK and France under the von Essen banner, none of which is in administration and all of which continue to trade.

According to a Daily Telegraph investigation, the administrators have contacted the police over concerns regarding a loan spent prior to the business’ collapse, thought to be in the region of £30m.

Von Essen lenders Lloyds and Barclays called in the administrators following the company’s failure to keep up interest payments on its £250m debts.

For more company information visit the Share Price Centre.

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