Management buyout saves Folio Hotel jobs | dailymail.co.uk
A management buyout of 18 hotels has saved 1200 jobs at Folio Hotels, the group that called in administrators MCR in December. The hotel chain had blamed its downfall on a badly timed programme of refurbishments, together with the onerous burden of big rents that were negotiated at the height of the market. But today a group of former Folio managers has created a new company, Mulbourn Limited, funded by landlords, the management team and private equity.
