Tim Groom Signature Living 2
Signature had published designs last year for its first hotel in Manchester

Signature’s hotels arm calls in administrators

Sarah Townsend

Developer Signature Living Group’s hospitality arm has collapsed, it has emerged a week after the company that manages one of its portfolio hotels in Liverpool also went into administration.

Administrators at Duff & Phelps were appointed on 15 April to Signature Living Hotel Limited, which holds various freehold and leasehold interests of the wider Signature Living Group run by developer Lawrence Kenwright.

Among the interests that holds is the leasehold title to the building occupied by the Shankly Hotel, whose holding company Signature Shankly collapsed into administration last week citing pressures from the Covid-19 pandemic.

The Shankly occupies Millennium House, at 60 Victoria Street in Liverpool city centre. It includes 59 aparthotel-style bedrooms celebrating Liverpool FC manager, Bill Shankly. Administrators at Duff & Phelps are currently investigating the hotel company’s financials to understand the “future trading outlook of the hotel”.

Signature Living Hotel also provides corporate guarantees to various secured and unsecured creditors of the group, including the various bedroom investors.

Michael Lennon, joint administrator at Duff & Phelps, said in a statement today that one creditor, Henslow Trading, has sought to protect its investment in Signature Shankly, “necessitating a need to appoint the joint administrators to protect the freehold interest in Millennium House”.

Lennon added: “The trading operations of the Signature Living Group are unaffected by the various administrations and we understand that all trading will recommence at the earliest opportunity.”

The administrators are carrying out a full review of the Signature Living Hotel’s interests and intends to write to creditors “in due course” to update them, the statement added.

The Signature Living Group operates several other hotels including the 30 James Street and Dixie Dean hotels in Liverpool, as well as The Exchange Hotel in Cardiff. Last year, it unveiled designs by Tim Groom Architects for its proposed first hotel in Manchester, on a site on Liverpool Road.

Last year, Signature Living put The Shankly and 30 James Street on the market with Savills for £35m and £16m respectively, but Duff & Phelps was unable to say whether the properties are still being marketed for sale.

 

 

 

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Sigh. The quicker signature are chased out of our city the better the chance of us gaining confidence in ourselves

By Fairy Contrary

Its a shame that there will be employees and extended members of the supply chain affected but this company and their working practices are no great loss to the market.

By BDAY

Long overdue. Firm’s buildings are crippled with defects

By Captain Reality

The sooner someone decent gets hold of 30 James Street the better. Has anyone seen the standard of fit out in there up close…..fine I suppose if you are a twenty something on a hen do, but Signature’s ownership does not befit 30 James Street. And when are they going to finish that building on Old Hall Street!!

By Old Hall Street

Chavtastic developer

By Old Hall Street

Share prices in crushed velvet headboard providers has fell through the roof this morning.

By Anon

Well there’s a headline I never expected to read.

Said no-one, ever.

By Sceptical

A lot of investors were burnt dealing with Signature living and I am one of them

By Zak

I feel for every person who has lost their job as a result of this. I know the snobs will love the demise of Signature but people’s livelihoods have been washed away alongside supply chain debts. Another developer built on a debt bubble that flourished briefly under the Wild West capitalism of Mayor Joe and his regeneration team.

By John Smith

Err John Smith I beg to differ. Just because we dont want cowboys ruining the city with their roof boxes does not make us snobs.

By MmcDrama Queen