Welcome Break SPV calls in the receivers


The financing arm of UK motorway service station operator Welcome Break has gone into administrative receivership, putting the future of its £376 million of outstanding bonds into question.

Last month the owner of Welcome Break, Investcorp, signed off the accounts of the Welcome Break Group as a going concern, but did not do the same for Welcome Break Finance (WBF), the special-purpose vehicle that issued the bonds. Within a week, Neville Kahn of accountancy firm Deloitte & Touche was appointed

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