Manchester Airport Hotel Investments and Claims
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MANCHESTER TERMINAL 2 HOTEL INVESTMENT
With so much traffic heading in and around Manchester Airport, and with flights in and out to more and more destinations, an investment in the Manchester Terminal 2 Hotel may have sounded like a great idea.
Many people certainly thought so, with some being persuaded to invest their pensions into the project.
But many may have been unaware that this hotel project was high-risk, unregulated by the watchdogs over at the Financial Conduct Authority, which may have meant that some investors bit off more than they could chew when it came to risk.
Sadly, traffic seems to have been the issue to the Manchester Terminal 2 Hotel investment, now in administration. The latest official report from the administrators says that roadworks around the area, which took its toll on the business. By March 2017, it reported an operating loss of £1,874,619, with cash-flow issues leading to a liability with HMRC. In Feb 2018, enforcement officers representing HMRC entered the hotel and took furniture and equipment to pay the HMRC debt.
Timeline of events: Manchester Terminal 2 Hotel investment
2012 - Company begins
The high-risk, unregulated hotel investment begins, with Paul Kinsella as director.2015 - Kinsella resigns
Paul Kinsella resigns as director on the 24 April 20152016 - Roadworks begin
Major roadworks in the area effect business for the hotel.2018 - HMRC & Administration
Due to difficulties in cash-flow and operating losses, an outstanding liability to HMRC was created, resulting in property from the hotel being taken by enforcement operators in Deb 2018. By April, the company had entered into insolvency proceedings.Did you know, we’ve made successful claims over mis-sold hotel investments before?
If you needed any more reason to choose us to take forward your claim, we’ve seen success in the past with claims over high-risk hotels
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