MWB Group has announced its intention to appoint two administrators from Deloitte.
In a stock market update released this morning, the company said it had failed to reach a solution to a cash flow problem that was announced late last month, when trading in its shares was also suspended.
The administration will apply only to MWB Group Holdings plc.
It does not include MWB Malmaison Holdings Limited and its subsidiaries, which together own and operate the Malmaison and Hotel du Vin hotel chains, and MWB Business Exchange plc and its subsidiaries, which together own and operate the Business Exchange serviced offices business, all of which will continue to trade normally.
jack.sidders@estatesgazette.com
