Carlton Hotel Kinsale in receivership

The Carlton Hotel in Kinsale, Co Cork, has been placed into receivership after Bank of Scotland moved against developers Gable Holdings.

KPMG receiver Kieran Wallace was appointed by Bank of Scotland as the receiver to the hotel yesterday. Staff were told at a meeting in the hotel yesterday morning.

Mr Wallace said the hotel would continue to trade as normal and the 95 jobs would be protected.

“The jobs of the 95 employees will be protected and the hotel will honour all bookings that they have received and continue to trade as normal,” he said.

The manager of the hotel said they had contacted all wedding parties who had booked to reassure them that everything would go ahead exactly as planned.

“We have had a busy year. We are trading successfully. What has happened here is in relation to the original developers and the bank. All the weddings that are booked in are going ahead. We have had 85 weddings this year and we expect a good 20 more before the year is out. For 2013, we have 17 weddings booked and we are hoping to hold 90 over the year,” he said.

The hotel will continue to trade under the Carlton name but it will no longer be part of the Carlton group.

The principal members of Gable Holdings include Tadhg O’Brien, James Whelan and John Twomey, the Irish gold medal paralympic sailor from Kinsale.

The hotel was launched in July 2006 following a reported investment of €35m by the Gable Holdings consortium.

The original loans to fund the development of the hotel were provided by Bank of Scotland Ireland.