€9m losses for owners of Kingsley

The firm that operated the 5-star Kingsley hotel in Cork — which shut down due to extensive damage caused by the 2009 floods — had accumulated losses totalling €9.3m at the end of 2011.

Last month, Savills, instructed by receiver Deloitte to Kingsley Hotel Ltd, put the hotel up for sale with a guide price of €6m.

Accounts just filed by the firm to the Companies Registration Office for 2011, 2010 and 2009 show that the firm’s accumulated losses had increased to €9.354m in the 12 months to the end of December 2011.