I read in the Irish Times today that Bellinter House, owned by Jay Bourke and John Reynolds, is going into voluntary liquidation, but staying open and will in future be run by a new company, Patrick Hotels, also owned by Jay Bourke and John Reynolds.
We are thankfully not involved, but presumably the trade creditors will get screwed in the liquidation process. Meanwhile, they just carry on with a new company...
Anyone know how does this work? Do I have the wrong end of the stick?
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2 comments:
Its dosent work like that, the bank appoints a new company to take over in this case they have, Patrick Hotels Ltd which is not run by Jay Bourke. I have seen plenty of hotels go through this change
That's fair enough, the article in the Irish Times didn't read like that though
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