GRANT THORNTON administrators have been called to Midlands-based hotel chain Fortmere.
David Bennett and Joe McLean were appointed joint administrators to the business, which operates three hotels under the Ramada Hotels franchise. They will continue to trade while they seek a buyer.
Bennett (pictured) said: “The three hotels are well-located for both corporate and private trade and we look forward to talking to any parties who may be interested in adding them to their own portfolios.”
Fortmere’s operation manager Ken Latham said the decline in the property market had a serious impact on the business.
The hotels employ 145 people and there are no immediate plans for redundancies.
The application of robotics in finance functions is moving faster than predicted. Although, companies are cautious in how they are applying artificial intelligence to ensure results first, many are stepping up their investigations
EU competition commissioner Margrethe Vestager has defended the decision to order technology giant Apple to pay €13bn (£11bn) in back taxes to the Irish government
Carillion has announced the appointment of a new finance director as it reported a rise in first half profits and sales led by strong growth in its support services business
The UK inflation rate hit its highest level in almost two years in July, suggesting that the sharp fall in sterling following the UK referendum to leave the European Union is forcing prices up