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Thursday, 4 November 2010

Hotels and pubs in difficulties in Scotland

The estate agent Christie and Co have announced that they have seen a rise of 126% in the sales of hotels and pubs from distressed asset sales in Scotland. This percentage applies to the last six months to September.

The number of pubs for sale showed a 189 per cent increase in business sales during the six month period compared to the previous year, with the care sector seeing a 125 per cent rise.

All in all, it looks as if the leisure sector is suffering. This is not surprising given the high proportion of public sector workers in Scotland who may be fearful of their employment prospects.

The sale of leisure assets can be part of any strategic review undertaken by business turnaround advisors and insolvency practitioners in order to acheive a better result for creditors and allow the business to continue to survive.

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