CONCERN FOR GALWAY HOTELS AS BANK OF SCOTLAND IRELAND CEASE OPERATIONS

Date Published: 20-Aug-2010

Concern has been raised for the future of up to ten hotels in Galway following the Bank of Scotland Ireland decision to end its operations in Ireland.

It’s understood the bank provides around 30 million euro in working capital facilities to around 150 hotels across the country, an estimated ten of which are in Galway.

Yesterday Galway Bay FM News revealed that the majority of the 30 jobs at the Galway branch of the bank are safe, with just one person facing redundancy.

However, the banks withdrawal from the Irish market means around 10 Galway hotels will be left without their flexible credit arrangements by the end of this year.

Chairman of the Galway Branch of the Irish Hotels Federation Paul Gill, says many hotels are now facing an uncertain future.