Grant Thornton pockets £1m in Esporta sale saga
Adminstrators ask for extra year in attempt to sell Esporta
Administrators from Grant Thornton have asked the courts for another year to
sell Esporta’s parent companies as the firm’s fees climbed past £1.3m.
Total professional fees for the last year reached £2.6m including lawyers and
investment bank fees.
Grant Thornton has asked for the administration extensions of Bell Leisure
Investment I and II to 13 August 2009, to enable it to sell Esporta’s 55 leisure
centres.
Advisers are looking to pay off main creditor Société Générale to the tune of
£330m.
Grant Thornton’s fees came from 3,926 hours’ work, at an average of £331 per
hour, reported
The
Telegraph.
Further reading:
Scottish firms preparing for
insolvency boom
