Chinese hotel builder abruptly liquidates business in UK
A Chinese conglomerate which has built hotels for Hilton and Travelodge has abruptly liquidated its UK subsidiaries reportedly due to the COVID-19 pandemic.CIMC is a global business with regional offices in the UK, US and Australia and the main head office in Southern China. The main UK business, CIMC Modular Building Systems and its development arm first set up to promote the modular system have both been placed in voluntary liquidation by managing director Jason Taylor.“The impact of the pandemic has been so wide and so deep that it has become impossible to survive without taking some fairly drastic steps,” a source said.CIMC MBS lost pound 2.5 million in 2018. During that year it delivered nearly 900 modules creating 1,317 hotel or student rooms.CIMC has supplied ready-built rooms from ...