A receiver has been appointed to three Cork hotels.
The Ambassador Hotel on Military Hill, the Oriel House in Ballincollig, and the Charleville Park Hotel have been placed in the receivership of KPMG’s Kieran Wallace.
The hotels were under control of the Cork Luxury Hotel Group, which was established by property developer William Savage.
The three properties had combined losses of €30m in 2010. More than 100 staff work in the three hotels.
Kieran Wallace told the Evening Echo today that none of the employees were in immediate danger of losing their jobs and that he was looking for a satisfactory outcome.