Ten Square: Belfast hotel goes in administration

Ten Square opened in Donegall Square South, behind Belfast City Hall, 15 years ago

A boutique hotel in Belfast city centre, Ten Square, has gone into administration, but it remains open while the business is reviewed.

It opened in Donegall Square South in 2000 and eight years later was bought by property developer John Miskelly.

Administrators EY were appointed to the 23-bedroom hotel on Tuesday.

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."

Ten Square is held by a company called Yorkshire House Limited.

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 - which refers to the hotel building - were valued at £4.2m while creditors were owed £3.8m.

An Irish Bank Resolution Corporation (IBRC) mortgage was registered on the building in June 2008.