Beetham firm in administration

Baker Tilly Restructuring & Recovery has been appointed administrators of Regional Landmark Hotels, formerly known as the Beetham Organization.

The appointment follows the administrations of a number of companies within the Liverpool-based group's portfolio, with Baker Tilly confirming that the latest transactions of the parent company will be predominantly share based.

Don Bailey and Lindsey Cooper, from Baker Tilly, were appointed as joint administrators of Regional Landmark.

Bailey, who is a consultant at Baker Tilly Restructuring & Recovery, said: "We are working with the former management team to ensure maximisation for creditors, which will predominantly include the disposal of investments in subsidiary companies."

In February, the West Tower built by Beetham in Liverpool was also placed into administration, along with Mapfield Properties, controlled by Hugh Frost and his son Stephen Beetham.

Anglo Irish Bank was the lender on the development and called in administrators from Grant Thornton UK LLP when the loan was not repaid in full on maturity.

In the same month, KPMG was appointed administrator to Beetham Hotels Liverpool and Beetham Hotels Manchester.

Both hotel businesses, operated by Radisson in Liverpool and Hilton Worldwide in Manchester, were acquired from KPMG by London-based Cypriot businessman Loucas Louca for an undisclosed sum in March this year.

Beetham Organization still has an online presence stating its head office is in the West Tower in Liverpool.

Beetham declined to comment any further when contacted by Place.

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