Landmark hotel operator crashes into administration
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MSHA Global Investments, the operators of The Cube Hotel in Birmingham have appointed administrators.
Located on floors 23 and 24 of the landmark building, The Cube Hotel employs nearly 100 members of staff which have been retained by administrators at Quantuma.
The hotel, formerly known as Hotel Indigo, was acquired just two years ago in a £12.5m deal.
Now specialist hotel operators from Brightstar Hospitality Management have been engaged by Quantuma to assist them in running the hotel which will continue to trade as normal.
MSHA also owns the leasehold to the Marco Pierre White restaurant but is unaffected by the administration. Black & White Hospitality owns the master franchise rights to the restaurant located on the top floor of The Cube and the restaurant and bar continue to take bookings and operate as expected.
It comes after a subsidiary of MSHA, the Caskade Group, fell into administration at the end of June, sparking fear for thousands of jobs at its fast-food restaurants.
Richard Easterby, Andrew Andronikou and Nick Simmonds of Quantuma have been appointed joint administrators of MSHA.
Easterby said: “The immediate priority for the joint administrators is to ensure that the hotel trading position is stabilised and that operations are maintained to ensure the is no impact on guests.
“We are pleased to confirm that deposits paid and future event bookings are being honoured as we seek to assess the options available to secure the long term future of this iconic Birmingham hotel.”
Fast-food chain operator Caskade and MSHA are both headed up by director Hamid Ali.
The group which comprises Caskade Caterers, Caskade 2020, Castlebarn and Grovemaze, entered into administration at the end of June, sparking fear for thousands of jobs and restaurants.
The Karali Group has since become the largest UK operator of Taco Bell after it acquired 46 sites from Caskade in a pre-pack administration deal with Freeths, safeguarding 650 jobs.
Begbies Traynor and FRP Advisory sold 40 KFC branches to Adil Group in another pre-pack deal, retaining more than 900 staff.