Third Party Management Increasing As Hospitality Failures Rise | caterersearch.com
The credit crunch has led to a marked increase in the number of third parties being parachuted in to manage hospitality operators that have gone into administration, experts have revealed. Third party management organisations, which offer specialist assistance to turn a business around on a solvent trading basis, provide an ongoing temporary day-to-day management service to administrators in the event that existing management of the failed company are either unwilling or unable to continue to manage the business.
