Final bid to save Le Meridien hotels

FRANTIC talks were continuing last night to avert the threat of administration which hangs over the Shelbourne hotel's owner, Le Meridien.

Today is the due date for a crucial rental payment for which there is no funds.

Bankers behind the chain have been grappling with the crisis last week without resolution and have been locked in talks all weekend in a desperate bid to keep the hotels out of the hands of administrators.