The Caterer
Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

AAIM goes into administration

04 December 2008 by

AAIM, the property company that is backed by Sir Alex Ferguson and Sir David Frost and owns a number of pubs and hotels, has gone into administration.

The company, which counts Principal Hotels and 270 former Marston's pubs among its portfolio, has called in administrator Grant Thornton after being hit by the slump in property values.

The group has a number of celebrities listed as either investors or advisers, with Frost chairman of its advisory board and Manchester United manager Ferguson listed as a founding shareholder. X-Factor presenter Simon Cowell is another high-profile backer.

AAIM launched in 2003 and received £100m in financing from HBOS in 2006 to invest £2b in properties across the UK, Western and Eastern Europe.

The London-based firm is headed by group chief executive James Elton, a former development director at Le Meridien Hotels.

Brian Turner and AAIM to open pub and catering school in Somerset>>
Scottish & Newcastle unveils the Discovery Pub Company>>
Is private equity a force for good in hospitality?>>
Marston's rules out REIT in short term>>
AAIM set to buy 37 hotels>>

By Daniel Thomas

E-mail your comments to Daniel Thomas here.

Caterersearch.com jobs
Looking for a new job? Find your next hotel job here with Caterersearch.com jobs

The Caterer Blog](http://www.caterersearch.com/blogs/catering-news-blog/) Catch up with more news and gossip on the Caterer Blog here
[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking