Half the debt is in the joint venture, which includes seven of the 13 international hotels in the Rocco Forte Collection, including Brown’s in London.
Forte told The Herald: “Part of our hotels business is in joint venture with Bank of Scotland. They have declared the joint venture is no longer core, and over a period of time they would like to disinvest from it.”
The bank’s review is another signal of the pressure now being exerted on some of the biggest and most favoured customers of the former Bank of Scotland corporate lending chief Peter Cummings.
Last month, turnround specialist Donald Muir was appointed to the board of two companies in the Murray International Holdings empire of Sir David Murray, Premier Property and Rangers FC.
Last week, administrators were sent in to Kenmore Property Group, one of the biggest property co-venturers with Bank of Scotland.
A report last month said Forte was in talks about a restructuring, and a company spokesman admitted the group was “over-geared”. But he also said both companies were “committed to the joint venture”.
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