BusinessBusiness Recovery1,100 jobs saved by FRP Advisory in hotel caterer sale

1,100 jobs saved by FRP Advisory in hotel caterer sale

Administrators manage to sell Hotel Solutions days before they would have been forced to shut-down the business

FRP ADVISORY administrators have managed to agree a sale of collapsed hotel chain Hotel Solutions to Housekeeping Solutions.

Jason Baker and Geoff Rowley, partners at FRP Advisory, were appointed joint-administrators to the Wembley-based hotel and catering business on 27 March.

As part of the deal all outstanding contracts at Hotel Solutions have been sold to Housekeeping Solutions.

A statement from the administrators said although the company was successful in winning contracts, it accumulated trading losses and liquidity problems racking up large debts to HM Revenue & Customs and other creditors.

Baker (pictured) said: “We are pleased that the sale to Housekeeping Solutions has helped secure 1,100 jobs and safeguarded a continued service to its customers.

“Due to the pressure of the month end payroll we had a very limited time to achieve a sale. In our view this is an exceptional result for the business, its customers and its employees because the alternative would have been a shutdown and closure, almost certainly this week.”

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