Dalziel Park Hotel and Conference Centre in administration
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The Dalziel Park Hotel and Conference Centre, near Motherwell, has gone into administration with debts of £2.5m.
The hotel tells conference-news it is “still trading”, however, but confirms the business is in the hands of the administrators.
The centre was owned by boxing promoters, twins Mario and Carlo Rea, who were arrested in 2008, on money laundering and drugs offences.
Mario Rea, has had his assets frozen by Crown prosecutors, including Dalziel Assets Limited, the company which owned the hotel and conference centre.
Dalziel Park has to apply for drinks licences from the council for bookings such as weddings because any business which goes into administration automatically loses its permanent drinks licence, according to Scottish licensing law.
The Reas bought the hotel in 2007 for a reported £2m.
Among the creditors is banking group Santander, which is reportedly owed £2.5m by Dalziel Assets.
A statement from administrator KPMG said, in part: “It is unclear if the bank will receive their indebtedness in full as a result of the administration process.”
KPMG’s Blair Nimmo points out that potential buyer will acquire an established business which has a loyal clientele and strong catchment. He believes a buyer for the facility will be found “once the marketing exercise is fully under way”.
21 July 10
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