• Hand Picked Hotels falls into the red

The Hand Picked Hotels chain owned by private equity boss Guy Hands saw turnover fall 5% to £58.3m in the year ending November 26, 2009, and losses increase from £3.1m to £8.2m.

Payments for loans and overdrafts were a major factor with £8.8m in interest last year. Debt totalled £126m including £99m owed to Lloyds Banking Group The accounts for the 17-strong boutique chain, which owns sites such as Flemings Hotel in Mayfair and Rookery Hall in Nantwich, show Hand Picked owes £11.1 million to Guy and a further £11.9 million to his wife Julia in unsecured loans, while another secured loan of £3.9 million is owed to Guy.

Press report here: http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/7871530/Terra-Firmas-Guy-Hands-takes-on-more-debt-at-wifes-Hand-Picked-Hotels-chain.html

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