Devon

Restructuring for James Brent's Akkeron group

  • 5 March 2014
  • From the section Devon
James Brent
Image caption James Brent's ventures range from Plymouth Argyle to Paignton's Oldway Mansion

One of Devon's best-known entrepreneurs, James Brent of the Akkeron Group, has seen three of his hotel companies go into administration as part of a financial restructuring.

Akkeron, one of the UK's biggest regional hotel groups, owns properties including Exeter's Buckerell Lodge.

The management of that hotel has transferred to a new Akkeron subsidiary.

No hotels are closing and there is no change for his other ventures.

Several hotels that Akkeron had operated under lease are going back to their freeholders.

Mr Brent's other ventures range from Plymouth Argyle to Paignton's Oldway Mansion.

The football club exited administration in 2011 following their takeover by Mr Brent.

In a statement, Argyle's board of directors said the club's finances are "not under threat".

The board added: "The current financial restructuring programme within the Akkeron Hotels Group is entirely irrelevant in the context of PAFC."

Mr Brent also took over the ownership of the entertainment venue, the Plymouth Pavilions, in October 2012.

His £83m regeneration plans include a larger concert area and an ice rink near Plymouth Life Centre - one of the sale conditions stipulated by Plymouth City Council.

The restructuring comes after trading difficulties in some parts of the business.

Mr Brent was not available for comment.

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