More than 900 London & Edinburgh jobs saved

From The Publican

By Hamish Champ , 09-Nov-2006

Related topics: General News, Company & City News

Administrators to London & Edinburgh Swallow group (L&ES) have sold 13 of the collapsed group's hotels to REIT Asset Management for an undisclosed sum.

 

The move saves 977 jobs, according to Ernst & Young, which has controlled what remains of L&ES after it went into administration in September.

 

Joint administrator Roy Bailey said: "We are delighted to have been successful in selling a further thirteen properties and securing the jobs of employees at these sites."

 

According to Ernst & Young REIT Asset Management already owns the freeholds of the properties.

 

A spokeswoman for the administrators said the group was employing management company Crerar to oversee the day-to-day running of the hotels.

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