Another Signature Living company has gone into administration - this time one behind a "luxury" hotel being developed in Belfast.
The third firm to have announced administrators being called in this month, the latest announcement regards the Bedford Hotel Limited - trading as the George Best Hotel in Belfast - which was set to open in the summer.
It comes hours after it was announced Signature Living Hotel Ltd - a firm holding various freehold and leasehold interests of the wider Signature Living Group - went the same way earlier today. It also follows last week's news that the Shankly Hotel - one of Liverpool's best known hotels - had gone into administration.
The hotel is due to open in June - and has said advance bookings and reservations remain "unaffected".
Financial advisors from Duff & Phelps - the firm managing the administration of the other two firms, has also been called in for the £15m Belfast city centre hotel.
Joint administrator Michael Lennon said: “The renovation of the hotel is in the latter stages of completion and is due to be launched later this year.
"In order to protect its investment and provide a platform from which the hotel can be completed, Lyell Trading Limited have taken steps to appoint the joint administrators.
“We recognise the value of the George Best Hotel as a finished development and trading hotel. In so far as it is possible, advance bookings and reservations remain unaffected.
"We will be exploring all options with the current funders to maximise its value and ultimately the return to creditors.
“Like Signature Shankly Limited, we are aware that there are a number of bedroom investors that have paid deposits, we will be contacting all investors at the earliest opportunity to confirm our appointment and gather further information.”
The news comes after Signature Living announced last summer the opening of the hotel named after football legend George Best had been delayed due to "unforeseen" circumstances.
The property group bought the Scottish Mutual Building in 2017, and said it would open in 2018 as an 83-room "luxury" hotel.
Due to the delays, it was reported staff hired ahead of the anticipated opening were offered alternative posts in Liverpool and Cardiff.
Revised plans for the hotel were given the go-ahead by Belfast City Council back in January.
Duff & Phelps has said that due to the impact of Covid-19 on the administration, all enquiries should be directed to georgebesthotel@DuffandPhelps.com.
