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The Menzies Hotel Chain faced with a probable sale

The Menzies hotel chain has fallen into administration for the second time in two years after Lloyds Banking Group pulled the plug on efforts to turn round the business.

Earlier this year the British parent group of the chain, Cordial Hotels, defaulted on £165m of debt owed to Lloyds. However, the Menzies’ 15 hotels should carry on their activities. The 1,200 staff are expected to keep their jobs, but he company is under review and valuation for an expected sale over the summer.

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