Hotel du Vin group to call in administrators

16th November, 2012 by Rupert Millar

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Your email address will not be published.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 *

Subscribe to our newsletters

Job vacancies

Administrative Assistant

Swig Wines Ltd
Chiswick, London, UK

HR Manager

Amathus Drinks PLC
London, UK

Beer Development Specialist

Matthew Clark
London, UK

Senior Sales Manager

Haynes Hanson & Clark
Gloucestershire, GB

Customer Services Administrator

Speciality Drinks Ltd
London, UK

National Business Development Manager

Speciality Drinks Group
London, UK

Inventory Analyst

Bibendum PLB
London, UK

Events Executive - Atom Supplies

ATOM Supplies Limited
London, UK

Off-Trade Sales Account Executive

Domaine Direct
Nationwide, working from a combination of home & London office.

Sales Executive/Brand Ambassador

Glenfarclas
Ballindalloch, Speyside, UK

Client Manager

Noble Rot
Wandsworth, London, GB

Spirits Investment Director

Stilnovisti
London, UK

Junior Brand Manager

Enotria Winecellars
Park Royal, London, UK

Content & Digital Assistant

ABVGlobal
London, UK

Sales Manager

Cellar Trends
London, UK

Champagne Masters 2017

Deadline : 7th July 2017

The Global Sparkling Masters 2017

Deadline : 10th July 2017

The Global Malbec Masters 2017

Deadline : 10th July 2017

The Global Syrah Masters 2017

Deadline : 18th July 2017

Click to view more

The Drinks Business Awards 2017

Now in its 15th year, the db awards have become the most authoritative, internationally respected badge of achievement in the alcoholic drinks industry.

The Asian Cabernet Sauvignon Masters 2017

the drinks business Hong Kong announces its first year of The Asian Cabernet Sauvignon Masters.

Rioja Masters 2016

Now in its fifth year, the competition will recognise and reward the finest Riojas on the world stage.

Fortified Masters 2016

Now in its third year, The Fortified Masters will reward the best fortified wines on offer.

Click to view more