see all jobs
£463m loss for Jurys Inn's holding company
Vesway, the Ireland-based holding company behind the Jurys Inn hotel group, is to report a loss of £463m for the year to December 2010 due to a number of exceptional charges.
According to the Telegraph, Vesway will file accounts at Companies House detailing a £212.7m write-down against Jurys Inns' assets, when compared with a 2007 valuation.
The newspaper also said that Vesway were hit by interest payments and a £223.9m goodwill impairment, although Jurys Inns did see a 5.9 per cent growth in sales.
Meanwhile, PricewaterhouseCoopers has been appointed by Jurys Inns' lenders, led by the Royal Bank of Scotland, in a bid to help the group reduce its debts totalling £652m.
It came after Jurys Inns breached covenants, which has led to talks between the company and its lenders in a move that could see loans converted into shares.
Details: www.telegraph.co.uk
More News
- News by sector (all)
- All news
- Fitness
- Personal trainer
- Sport
- Spa
- Swimming
- Hospitality
- Entertainment & Gaming
- Commercial Leisure
- Property
- Architecture
- Design
- Tourism
- Travel
- Attractions
- Theme & Water Parks
- Arts & Culture
- Heritage & Museums
- Parks & Countryside
- Sales & Marketing
- Public Sector
- Training
- People
- Executive
- Apprenticeships
- Suppliers