Kelly Burton and Lisa Hogg of Wilson Field have resigned from their position as joint administrators of the Signature Living’s Coal Exchange hotel.
The former joint administrators resigned from their position due to funding for the holdings costs of the Cardiff hotel being withdrawn.
This meant that Burton and Hogg would be “unable to achieve the statutory purpose of administration”.
A statement by the Wilson Field read: “The former joint administrators have made every endeavour to achieve a sale of the hotel and this is reflected in the huge amount of time they and their team have spent on the case.
“The decision to vacate office was not taken lightly and it is with regret that a better outcome could not be achieved for the company’s creditors. That being said, we are hopeful the official receiver or any subsequent Liquidator will be able to achieve a better result for the company’s creditors.”
The firm said it will make “every effort” to assist the subsequent office holder with its investigations into the company’s insolvency.
Signature Living Hotel Ltd filed for administration earlier this year, with Duff and Phelps being appointed as administrators.
The group’s 30 James Street hotel also reopened under Legacy Hotels on 25 July, following the hotel’s collapse into administration. Legacy Hotels confirmed in June that Signature Living will have “no further links” to the management of the hotel.