Barrett agrees Edwards assets plan with Nama

Galway investor Gerry Barrett is working with Nama to agree a plan to trade out assets in his Edwards Holdings group until they can be prepared for sale.

That is according to new filings for Mr Barrett’s KH Kitty Hall Holdings Ltd, which show that the firm recorded a loss of €6.28m in 2012. At the end of December 2012, the firm had net current liabilities of €167m.

The group operates the four-star Meyrick hotel in Galway’s Eyre Square. The Barrett firm that owns the hotel, Ml Meyrick Ltd, has written down the value of the hotel from €70m to €7.8m.