The collapse of the Dawnay Day empire built up by Peter Klimt and Guy Naggar has this morning led to the end of their involvement in Dawnay Day Hotels.
The duo tendered their resignations to the company at a directors meeting on Tuesday.
Shore Capital will now take over full control of the company. Its principal Howard Shore has been appointed chairman and company secretary Jonathan Paisner has become a director.
Dawnay Shore Hotels will now seek to change its name to Puma Hotels.
The group owns a total of 20 four-star hotels across the UK, including the Lygon Arms in the Cotswolds. The properties are managed by Spanish group Barcel? Hotels & Resorts.
Klimt has also resigned from Central and Eastern European retail property investment company Dawnay Day Carpathian.
