Deathwatch: Could Malmaison be closing its doors soon?

14 November 2012

Could the ‘boutique’ hotel be about to disappear from the landscape as the economic chill takes the nation’s purses in its vile grip? Maybe.

We were awoken to the disturbing news that MWB, the company behind the Hotel du Vin and Malmaison hotel chains is looking to go into administration if ongoing refinancing plans don’t work.

Believe it or not, the cause of the potential collapse is an ongoing row between the company and ITSELF. Well, actually it’s a subsidiary company that it part-owns, MWB Business Exchange, and they’re rowing over the repayment of multi-million pound liabilities between the two companies.

We won’t bore you with the details but if it doesn’t get sorted soon, the boys and girls from Deloitte will be moving in with their administrating kits and doing whatever it is they do. Apart from making themselves a load of money that is.

TOPICS:   High Street News

5 comments

  • foxes
    What Deloitte actually do is pretty simple. They add up what the company is worth (let's call that A) then what the liabilities are (say B). The amount they need for themselves is around £40m so we'll call that C. The amount actually given back to the people the company owes is a proportion of what's left after then A-C-(tax owed)=money left to creditors. If you're wondering how they arrive at £40m it's easy. The amount they take is whatever they can get away with and still pay creditors about 2p in the £. Hope this helps someone.
  • Stringer B.
    @ foxes I don't believe you had the floor but that shit is real
  • Kevin
    Of course if companies didn't screw up there wouldn't be a need for companies like Deloitte. Someone has to provide those services to wind companies up. Sounds like it's a good market to be in so why do they get the big ones? Probably more competitive than others!
  • foxes
    @Kevin I don't like to burst your bubble but companies can be forced into this precisely to make money for the people engineering it. E.g Comet, Rover. There are a lot of thieves wearing smart suits.
  • deathwatch
    DW Sports deathwatch ? DW sports is no longer trading online. Looks like Deloitte going to have another company to milk.

What do you think?

Connect with Facebook, Twitter, or just enter your email to sign in and comment.

Your comment