10 September 2019
Recoveries and Restructuring
SHW’s Restructuring & Recoveries team acted as expert advisors on behalf of Yorkshire Building Society for a 28-room hotel on Bridlington seafront – the borrowers could no longer service outstanding debt, necessitating the sale of the asset.
Specific recovery skills were necessary in this case as receivership was deemed not to be preferred route.
Objectives / actions:
Recoveries & Restructuring Partner Stephen Ray said: “It is highly satisfying to take this hotel from closure through to the verge of a brand new lease of life, either as new residential stock or a new guest house / hotel.”