The Dakota Sherwood Park hotel in Nottingham has gone into receivership, the company confirmed today.
The hotel is thought to have been placed into the hands of receivers three weeks ago, after a long-standing dispute between co-owners David Coulthard and Malmaison founder Ken McCulloch could not be resolved.
Coulthard, the Formula 1 driver and the co-owner of the Dakota Nottingham and the Columbus hotel in Monaco, fell out with Dakota chief executive McCulloch last year.
Coulthard's accountants had disclosed that millions of euros were "missing" from the accounts of the Columbus hotel in Monaco, co-owned with American property developer Peter Morris. Coulthard then ordered the sale of the hotel in Monaco.
According to the Daily Telegraph, Coulthard has now ordered the liquidation of the Dakota Sherwood Park in Nottingham, to which he has allegedly lent "hundreds of thousands" of pounds.
"I am extremely disappointed that it has come to this," McCulloch told the newspaper. "My concern right now is the welfare of our Nottingham team."
By Gemma Sharkey
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