Receiver appointed to Citywest Hotel

 

Some 400 jobs could be under threat after a receiver was appointed to CItywest Hotel,  it  emerged this evening.

Citywest Hotel, one of the biggest hotels in Europe, comprises 1,730 hotel rooms, suites and apartments; two golf courses and a large convention centre. It employs some 400 people.

Bank of Scotland (Ireland) Limited has appointed Martin Ferris of Ferris & Associates as receiver to the company HSS, trading as Citywest Hotel, Golf and Leisure.

A statement issued this evening said Mr Ferris intends appointing an operator to continue trading the business as a going concern.

Chief executive Sean Whelan said the bank had acted prematurely and claimed that the group is in talks with a single party over a possible buyout.

“We are in substantial negotiations with a very large investor who wants to buy the entire group,” he said.

Citywest management said staff would co-operate fully with the receivership programme.

Well-known businessman Jim Mansfield, who developed the Citywest site, fought a long battle in the courts during the 1990s for permission to build a conference centre nearby. He is also the owner of Weston - a small airfield to the south west of Dublin.

HSS consists of Citywest Hotel, Conference Centre, Leisure and Golf Resort. The appointment also includes the assets of Jeffel, a land holding company.

Additional reporting: PA