The High Court’s recent decision to sanction a restructuring plan for a holiday lettings company could have significant implications for distressed small and medium-sized manufacturing businesses and their creditors in the future, say lawyers at Irwin Mitchell.
Operating in eight countries and employing 300 people via independent contractors, Houst and its subsidiaries specialise in providing property management services for short-term and holiday lettings. The business lists properties on various websites, including Airbnb and booking.com, but due to the coronavirus pandemic it experienced a significant reduction in demand. According to Irwin Mitchell’s Restructuring &…
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