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Article: United Kingdom : AHG eyes [pounds sterling]1.4bn debt restructure.
- Article from:
- TendersInfo
- Article date:
- August 17, 2009
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Byline: pinto03
The Alterntive Hotel Group, the chain behind some of Britain s most prestigious hotels including Cameron House in Scotland and the De Vere chain, is entering talks about a restructuring of its [pounds sterling]1.4 billion debt.
The chain is beginning negotiations with its lender Lloyds Banking Group after the bank appointed the accountants Deloitte to carry out an independent review of the business, amid concerns that AHG would be unable to meet its debt terms.
According to The Times, shareholders, including AHG s founder, Richard Balfour-Lynn, are unwilling to invest more money into the business. Lloyds is considering a massive ...