Administrators appointed to Signature Living Hotel Ltd, and Belfast hotel site
Administrators have been appointed to Liverpool-based Signature Living Hotel Ltd.
And early this afternoon (April 24), the same team was appointed as joint administrators of a Belfast property belonging to the Signature Living Group.
Matthew Ingram and Michael Lennon, of Duff & Phelps, were appointed joint administrators of the Signature Living Hotel Limited on April 15, 2020.
Earlier this month Duff & Phelps was appointed as administrators of the Signature Shankly Ltd, which is the firm holding the leasehold interest of the Shankly Hotel site in Liverpool, part of the city’s hotels operator and developer Signature Living.
The Signature Living Hotel Limited company holds various freehold and leasehold interests of the wider Signature Living Group, which includes the building from which the Shankly Hotel trades, Millennium House, in Liverpool’s Victoria Street.
The company also provides corporate guarantees to various secured and unsecured creditors of the group, including the various bedroom investors.
Michael Lennon said: “The steps taken by Henslow Trading Limited to protect its investment in the Signature Shankly Limited has necessitated a need to appoint the joint administrators to protect the freehold interest in Millennium House.”
On appointment, the joint administrators are carrying out a full review of the company’s interest and will write to creditors in due course.
Mr Lennon added: “The trading operations of the Signature Living Group are unaffected by the various administrations and we understand that all trading will recommence at the earliest opportunity.”
Following news of this appointment today, Duff & Phelps announced this afternoon (April 24) that Matthew Ingram and Michael Lennon were appointed joint administrators of the Bedford Hotel Limited, scheduled to open later this year as the George Best Hotel.
Part of the wider Signature Living Group and situated just minutes from Belfast’s most popular entertainment, cultural and retail destinations, on the junction of Donegall Square and Bedford Street, The George Best Hotel is set to comprise of 83 fully furnished luxury rooms, all themed around one of the city’s most iconic figures, the legendary George Best.
Michael Lennon said: “The renovation of the hotel is in the latter stages of completion and is due to be launched later this year.
“In order to protect its investment and provide a platform from which the hotel can be completed, Lyell Trading Limited have taken steps to appoint the joint administrators.
“We recognise the value of the George Best Hotel as a finished development and trading hotel.
“In so far as it is possible, advance bookings and reservations remain unaffected.
“We will be exploring all options with the current funders to maximise its value and, ultimately, the return to creditors.
“Like Signature Shankly Limited, we are aware that there are a number of bedroom investors that have paid deposits, we will be contacting all investors at the earliest opportunity to confirm our appointment and gather further information.”
The Signature Living Group operates a variety of hotels, including the Signature Living Hotel, 30 James Street and the Dixie Dean Hotel in Liverpool, as well as The Exchange Hotel in Cardiff.
