Administration for MWB Group Holdings
- 16 November 2012
- From the section Scotland business
MWB Group Holdings, the office and hotels business, has been placed in administration by its directors.
The company owns Malmaison Hotels and Hotel du Vin as well as a large portfolio of serviced offices.
Its subsidiary businesses will continue to trade "as normal", according to Deloitte's.
Administrators Phil Bowers and Neville Kahn said they will be exploring the options for realising value in the company's assets.
Mr Bowers commented: "The administration appointment is to MWB Group Holdings only and does not impact on the ongoing operation of its trading subsidiaries, including Malmaison Group and the MWB Business Exchange Group, the second largest serviced office provider in the UK.
"All trading subsidiaries of the group continue to run as normal."
It has been reported that the parent group has been in dispute with its office leasing subsidiary over loans between different parts of the business. There has been boardroom upheaval in recent months, and trading in shares was suspended at the end of October.
Malmaison hotels and Hotels du Vin are to be found in 26 locations around Britain, including Edinburgh, Glasgow and Aberdeen, with plans to open on Dundee's Waterfront.