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Carmelite hotel sold out of administration to Concordia Hospitality

04 February 2020 by
Carmelite hotel sold out of administration to Concordia Hospitality

The Carmelite hotel in Aberdeen has been sold as a going concern out of administration to Concordia Hospitality.

Immediately following the appointment of Michelle Elliot and Stuart Robb of Leonard Curtis Business Rescue & Recovery Glasgow as joint administrators on 31 January, the hotel’s business and assets, and the Carmelite brand, were sold as a going concern to Concordia Hospitality.

Administrators said the hotel will remain open and all 56 employees retained as a result, blaming the administration on the downturn in the oil and gas sectors.

Elliot said: “Unfortunately, the business experienced a significant re-duction in turnover over the last two years – principally due to the downturn in the oil and gas sector – which resulted in cash flow difficulties.

“However, I am pleased to confirm that, immediately after our appointment, a sale of the business and assets of the hotel was concluded.”

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