• BoSI withdrawal warning for Irish hotels

The Irish Hotel Federation has warned that the decision by Lloyds Banking Group to wind down Bank of Scotland (Ireland) could be "catastrophic".

BoSI has loans in excess of Eu2bn (£1.6bn) to the hotels sector. Paul Gallagher, president of the Irish Hotel Federation, called for government protection for hotels, adding: "Unilateral withdrawal of these working capital facilities at the end of December would be catastrophic, particularly at a time when other banks are reluctant to take on new customers."

See the full story here:
http://www.ihf.ie/press/101908bosi.htm

Share →