G Hotel moves to reassure guests as examiner appointed

The G Hotel has moved to reassure guests that all reservations will be honoured and functions will go ahead, after their operating companies entered examinership.

And property developer Gerry Barrett has said his other business interests in Galway – including Tribeton and the proposed Bonham Quay project at Galway Docks – are not affected by the legal process.

Mr Barrett applied to the High Court on August 19 to have an interim examiner appointed to seven companies which he owns, after his lenders, Danske Bank, sent receivers from KPMG into the G Hotel and adjacent Eye Cinema to take over operations.

It is understood Mr Barrett is hoping the examiner will restructure the companies and secure the future of their 375 employees.

The matter will be before the High Court again this morning (Friday) to have interim examiner Neil Hughes appointed as full examiner to the companies.

Examinership is a process where the High Court affords protection to a company for 70 or 100 days, which allows it ‘breathing space’ to restructure in an attempt to survive – and usually sees creditors paid a percentage of what they are owed.

A source in the G Hotel told the Galway City Tribune: “All reservations and bookings are to be honoured without exception during this process. We will deal with all guests and visitors with the same commitment to service and hospitality we have demonstrated since opening.

“We are convinced this is the best option to ensure the viability of the companies and the future job security of all our employees.”
For the rest of the story on the examinership, see this week’s Galway City Tribune. Buy a digital edition of this week’s paper here, or download the app for Android or iPhone.