Hotel chain Travelodge has been thrown a lifeline after a rescue deal was approved.
Creditors – including landlords across the UK – voted in favour of the plan that will see rent payments slashed across more than 100 hotels and 49 offloaded to other operators.
The company voluntary arrangement (CVA) is designed to allow Travelodge to exit poorer- performing leases while also to free itself of a crippling debt burden.
We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.
Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.
