Belfast city centre boutique goes into administration

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A boutique in Belfast, which was a popular choice for weddings and functions in the city centre, has entered into administration.

Four-star hotel Ten Square is now under the control of administrators EY (formerly Ernst & Young), who have been appointed the run the business while trading is reviewed.

The 23-bedroom hotel opened in Donegall Square South in 2000 and eight years later was bought by property developer John Miskelly in a deal reportedly worth £10m. Mr Miskelly hit the headlines in 2007 after the made a failed bid to buy Liverpool Football Club.

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In 2008, plans were outlined for the boutique to be expanded from 23 bedrooms to more than 100.

EY said: "The hotel will continue to operate business as usual. All events booked with the hotel will go ahead and deposits paid will be honoured."

Figures for its last set of accounts for the year ending March 2013, showed a loss of £161,000 on turnover of £3.6m.

That followed a 2012 profit of £269,000 on turnover of £6.1m.
The firm’s fixed assets were valued at £4.2m while creditors were owed £3.8m.

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