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By the time three businesses owned by entrepreneurs Ivor Finnie and Alan Wallace collapsed in September, they owed nearly £36 million, according to papers just lodged by AlixPartners, which is handling the administrations of the European Development Company (Bridge of Don Hotels), European Development Holdings and Verase. Insolvency specialist, FRP Advisory, are trying to find one or more buyers for these three hotels as joint administrators for the Aberdeen-based European Development Company. AlixPartners is currently running the Granite City’s Albyn restaurant, plus a Holiday Inn and Holiday Inn Express next to Aberdeen Exhibition and Conference Centre (AECC) and their sale is expected to deliver the best outcome for creditors.

Albyn Bar

Source : https://www.pressandjournal.co.uk

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