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Snoozebox signs energy deal after revealing £5.1m loss

11 September 2013 by
Snoozebox signs energy deal after revealing £5.1m loss

Troubled portable accommodation provider Snoozebox Holdings has announced details of a new contract for an 80 bedroom hotel in Inverness.

The firm, which yesterday revealed losses of £5.1m for the first six months of 2013, is now targeting temporary accommodation for construction, energy, healthcare and local authorities. It raised £9.5m from investors in May after a turbulent 2012 in which in made losses on its Olympic contract leading to the departure of the chief executive and chief financial officer.

Its latest deal is with energy firm Global Energy Group. Snoozebox will build an 80 bedroom hotel at its Nigg Energy Park at Inverness, Scotland.

The contract runs until April 2014, with the option to renew.

Snoozebox chairman David Morrison said: "We are pleased to be working with Global Energy Group at Nigg Energy Park. The relationship marks Snoozebox's entry into this dynamic sector and provides the potential for further growth. Snoozebox's high quality accommodation product, its expertise in providing hotel services and experience in deploying rapidly, were key factors in securing the contract."

Snoozebox to raise £10m in a bid to save the business >>

Robert Breare resigns as director of Snoozebox >>

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