Travel
Travelodge Landlords’ Group Seeks Detailed Information on Plan
(Bloomberg) — The Travelodge Owners Action Group, a coalition of Travelodge landlords representing more than 400 hotels, called for more information on a proposal to restructure the company.
The group is seeking “detailed clarification” on some of the terms of Travelodge’s current proposal before a June 17 deadline for an initial vote, according to an emailed statement from Viv Watts, who co-ordinates the group.
The landlords are calling for “greater transparency” as the voting deadline approaches and “urgently requesting detailed clarification on the options promised to landlords” in Travelodge’s proposal. “Without added clarification, landlords have the strength in numbers to oppose” the proposal, according to today’s statement.
The online creditors’ meeting is scheduled for June 19, with an announcement on whether the so-called CVA proposal has passed as expected on the same day, according to the action group statement. CVAs are a type of U.K. insolvency process that allows firms to cut rent without affecting financial debt if at least 75% of creditors and property owners agree.
-
News2 months agoINVESTIGATION: Why Nokia Could Matter More in the Quantum Age Than It Ever Did in Mobile
-
News2 months agoINVESTIGATION: Is AI in a Bubble? Inside the Trillion-Dollar Question Reshaping Global Markets
-
News2 months agoThales & Ankaa to Deliver Multi-Mission Air Traffic Surveillance Radars for Oman, Capable of Supporting Civil & Military Operations
-
Economy2 months agoOMIFCO Successfully Completes Bookbuilding & Sets Final IPO Offer Price
-
Economy2 months agoWhat Higher Oil Prices Mean for Oman’s Economy in 2026
-
Business1 month agoOman India Fertiliser Company Lists on Muscat Stock Exchange
-
Insurance2 months agoLEADERSPEAK: Dhofar Insurance CEO Sunil Kohli on Oman’s Insurance Sector, Reinsurance & Market Outlook
-
News1 month agoOQ Signs Agreement to Divest Majis Industrial Services to Rakiza & IV3 Aqua-led Investment Consortium
