Premier Hotels has been put into receivership after a refinancing bid failed at the last minute.
It is the UKs biggest Express by a Holiday Inn franchisee. It was said to have experienced financial difficulties through its property development activities. One of its partners is Quintain Estates.
Receiver Deloitte & Touche said all the 24 hotels are continuing to trade while all refinancing options were considered. It is unlikely there will be any shortage of buyers for the hotels.
The Times 06/04/01 page 28
