There was a small ray of hope for The Real Hotel Group yesterday as it emerged that a number of potential suitors had expressed an interest in the Purple Hotels operator.

The AIM-listed group fell into administration this week after having its shares suspended at 1.88p amid uncertainty over its finances. The group ran into trouble over the Christmas period after slow trading and the collapse of a planned disposal left it short of cash. However, it is understood that it received three serious expressions of interest before entering administration, that would most likely see an investor assume the group’s debt, only for its bank to reject the terms of the deal.

The Times