Tweet
AAIM, the property company that is backed by Sir Alex Ferguson and Sir David Frost and owns a number of pubs and hotels, has gone into administration.
The company, which counts Principal Hotels and 270 former Marston’s pubs among its portfolio, has called in administrator Grant Thornton after being hit by the slump in property values.
The group has a number of celebrities listed as either investors or advisers, with Frost chairman of its advisory board and Manchester United manager Ferguson listed as a founding shareholder. X-Factor presenter Simon Cowell is another high-profile backer.
AAIM launched in 2003 and received £100m in financing from HBOS in 2006 to invest £2b in properties across the UK, Western and Eastern Europe.
The London-based firm is headed by group chief executive James Elton, a former development director at Le Meridien Hotels.
Brian Turner and AAIM to open pub and catering school in Somerset>>Scottish & Newcastle unveils the Discovery Pub Company>> Is private equity a force for good in hospitality?>> Marston’s rules out REIT in short term>> AAIM set to buy 37 hotels>>
By Daniel Thomas
E-mail your comments to Daniel Thomas here.
Caterersearch.com jobsLooking for a new job? Find your next hotel job here with Caterersearch.com jobs
Using foraged ingredients is nothing new but the trend has become more mainstream over the past two years. However, the wider use of foraged food in restaurants also carries a certain amount of danger.
Watch here
Best of Chef – now available online View it now
07 Feb 2012
03 Feb 2012
06 Feb 2012
02 Feb 2012
31 Jan 2012
30 Jan 2012