UK: Cardiff’s Coal Exchange hotel is the third property of Signature Living to fall into administration.
Kelly Burton and Lisa Hogg of Wilson Field have been appointed as joint administrators.
The 200-bed Exchange hotel opened in 2017 following a £42 million investment in Cardiff’s former Coal Exchange building.
Just over three weeks ago, the Shankly hotel in Liverpool entered administration, followed by the George Best Hotel in Belfast. The latter was due to open this summer.
Duff and Phelps have been appointed as administrators of both properties. Part of their role is to investigate how investors’ money has been spent by the group.
In May last year, Signature Living put the Shankly hotel and 30 James Street up for sale for £57 million. A sale never materialised.
The group operates six trading properties in the UK, including the Signature Living aparthotel, 30 James Street, Arthouse hotel, and the Alma de Cuba bar-restaurant in Liverpool.