Shankly Hotel Liverpool
The Shankly hotel in Liverpool fell into administration in April

Signature Living Hotel ‘to rise from ashes’ 

Dan Whelan

The Liverpool-based hotel developer said it has reached an agreement with investors that could see the firm buy back assets placed into administration this year, and intends to open four more hotels “within the next six months”. 

In a statement, Signature Living Group chief executive Lawrence Kenwright, said of the hotel holding company, which collapsed into administration in April: “We believe we have secured a deal that protects all areas of the business and its investors. 

“We have decided to align ourselves with a group of our investors by creating two new companies that will house a range of assets along with our trading businesses.  

“These new companies will also be exploring funding options to buy back those assets that have been placed into administration.” 

During the months of lockdown, six of Signature’s hotel assets fell into administration, including the group’s parent company, Signature Living Hotel, for which Duff & Phelps was appointed as administrator.

In June, Duff & Phelps reported that Signature Living Hotel owed £113m to creditors and other group companies. 

However, in a deal that is intended to see “some of [the company’s] investor debt turned into longer term loans” the group hopes not only to recover, but to continue expanding. 

“We believe now more than ever that the modern-day hotel must deliver so much more than just a bed. We believe our future is now stronger than ever,” Kenwright added in the statement.

A statement from Duff & Phelps said: “The joint administrators are aware of recent press reports linked to the directors of the Signature Living Hotel Group and the ongoing administrations.

“The joint administrators have not been contacted by any party representing investors nor has any proposal been received in relation to the property assets or companies subject to the administrations.”

Lawrence Kenwright

Lawrence Kenwright runs the Signature Living Group

Your Comments

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Please tell me I’m imagining things.

Sigh.

By Michael McDonut

What a shocking start to the day. When is it going to end?

By Michael McDonut

Great news for Liverpool

By Dan

Oh no, they’re back!

By Freddy

Good grief they’re still peddling their nonsense

By Tony Wall

This is not correct at all, it’s the exact opposite in fact.

By gavin

Does anyone believe any of that?

By Anonymous

Its like watching Milli-Vanilli trying to sing….bless

By Anonymous

I hope not. This trashy chain of hotels should be consigned to the bin!

By Mr Rees

Better the devil you know than the one you don`t.

By Heswall

It’s true and it’s going to happen. It’s great news for Liverpool.

By Sam marshall

Rise from the ashes?? Shame the same can’t be said for the string of buildings that has fallen victim to them so far, that have looked beyond hope for years, and which embarrass the city daily.

60 Old Hall Street and Silkhouse Court still look like extras from a Brazilian shanty town. And that is preferable to being finished, given what they would have become!

Thank God they didn’t get their hands on India Buildings.

As for “buying back” assets via two new companies and a “group of investors”, what does that offer to the many creditors? There is a reason why they were told by administrators to reverse the transfers of property when they first tried doing that.

By Mike

Lawrence is not my cup of tea.

By Christopher Gaylord

Is one planned for Telegraph road in Heswall?

By Lower Heswall

Narnia will be next for Lawrence.

By Anoun

Are there any other angry investors out there?? Could we work together?

By Kim Williams

They’ve ruined Silkhouse Court. I guess I’m going to have to look at that clumsy cack-handed half-arsed refurbishment for the rest of my life…..

By Anonymous

Maybe the reason they refuse to give people refunds due to being unable to provide a servi e, with covid regulations, set by the government! Disgusting really.

By Anonymous

An absolute disgrace

By Anonymous

Oh dear oh dear oh dear

By Anonymous