Hotel News Resource Mobile Edition



« | »

Frederick Barclay Threatens Legal Action As Ritz Hotel in London is Sold – The Guardian

The luxurious Ritz hotel in London has been sold to a Qatari investor, prompting Frederick Barclay to threaten legal action as the feud over the family’s billions in assets deepens.

The investor has agreed to buy the Ritz, the storied 115-year-old property that is the crown jewel in the twin Barclay brothers’ empire, which includes the Telegraph and online retailer the Very Group (previously known as Shop Direct and, before that, Littlewoods) and delivery firm Yodel.

London-based legal firm Macfarlanes said that one of its private Qatari investors had bought the hotel, which David and Frederick Barclay purchased for £75m in 1995. The sale price is unknown, but it had been touted at about £750m.

Sir Fredrick Barclay, who along with his daughter Amanda is in a bitter battle with his brother’s side of the family over the family assets, said the spread of the virus had been used to push through the sale.

Frederick, who has threatened to sue if a sale of the Ritz goes through for less than £1bn, has expressed outrage at not being consulted on the sale.

Click here to read complete article at The Guardian.

Posted by on March 31, 2020.

Categories: Development

« | »




Recent Posts


Pages