The Real Hotel Group, which operates budget chain Purplehotels, has had its shares suspended amid uncertainty over its financial position.
Real Hotel Group, which also runs Stop Inns properties, requested the suspension of trading of its shares on the Alternative Investment Market (AIM).
In its most recent profit warning, the struggling hotel company said revenues from continuing operations had dived 34% during the first week of January, mainly as a result of a reduction in occupancy and related food sales.
The group entered talks with bankers following this latest warning. If the talks are not successful, the group said it would have to “consider all options”.
Earlier this week, Folio Hotels was rescued from administration by a management buyout.