Monday 13 August 2012

Travelodge could offload 50 hotels in effort to pay off £500m debt mountain | This is Money

One of the most familiar names in cheap and cheerful roadside accommodation could be forced to get rid of 50 of its hotels as it struggles to pay off debts.

Travelodge was today considering the drastic move to help tackle its £500million debt mountain.

As the budget hotel giant's debt payments have mounted it is considering asking landlords to accept a controversial company voluntary arrangement (CVA) as part of a wider restructuring.

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