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UK: Accountants Deloitte have been lined up as potential administrators to MWB, which suspended trading of its shares two weeks ago.
MWB’s bankers have appointed Deloitte to help it refinance the group or to step in as administrators if talks break down.
MWB, which owns 26 hotels across its Malmaison and Hotel du Vin brands, is in dispute with its part-owned serviced office provider subsidary MWB Business Exchange about the repayment of multi-million pound liabilities between the two companies.
It suspended trading of its shares two weeks ago, warning shareholders: “In the event that these matters cannot be resolved satisfactorily, the board expects that the value of the loan stock will be significantly compromised and that there will be no value remaining for existing shareholders. Further announcements will be made in due course.”
www.mwb.co.uk
