Hotel du Vin group to call in administrators

Hotel du Vin’s owners, MWB Group Holdings, is reported to have contacted Deloitte as potential administrators if ongoing financial talks fall through.

MWB, which owns 26 boutique hotels under the Hotel du Vin and Malmaison chains, suspended trading in its shares a fortnight ago, saying that they could soon be worthless.

In mid 2007, the shares were worth around 300p however when share trading was suspended this October they were worth just 5p.

The Daily Telegraph reported that the company is disputing the repayment of £8 million in liabilities to is subsidiary MWB Business Exchange and a further £4.8m in liabilities that was meant to have been paid monthly since September.

The share trading ceased when Business Exchange told MWB that it was going to offset the £4.8m liability against the £8m loan.

Talks are on-going and Deloitte will either be tasked with giving the struggling group another financial overhaul, or put it into administration.

On Tuesday the group announced that its finance director, Keval Pankhania, would leave the company immediately, while Andrew Blurton who had been the previous incumbent until 2010 would take on his old role.


Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

Subscribe to our newsletters

Retail Manager

Friarwood Fine Wines
SW London, UK

Assistant Manager

Seven Cellars
Brighton, UK

Key Account Manager

MMI Dubai
Dubai, UAE

Head of Supply Chain

Lanson International UK Ltd
London W1, UK

National Account Executive

Home Based working in Central Belt. Glasgow/Edinburgh, UK

Global Brand Manager - Ableforth’s (Bathtub Gin etc)

ATOM Supplies
Tunbridge Wells, UK

Trade Sales Manager

Wine Source Group
Central London, UK

Prowein 2018

18th Mar 2018

The City Wine Show

London,United Kingdom
13th Apr 2018

Prosecco Springs

London,United Kingdom
26th Apr 2018
Click to view more

The Global Rosé Masters 2018

Deadline : 19th March 2018

The Prosecco Masters 2018

Deadline : 19th March 2018

Click to view more

The Global Malbec Masters 2017

the drinks business is proud to announce the inaugural Global Malbec Masters 2017

The Global Sparkling Masters 2017

the drinks business is thrilled to announce the launch of The Global Sparkling Masters.

Click to view more