Snoozebox chief executive Lorcán Ó Murchú resigns ahead of new review of loss-making firm

 
Catherine Neilan
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The chief executive of troubled portable hotel group Snoozebox Lorcán Ó Murchú has resigned, ahead of the publication of a review of the loss-making business.

Ó Murchú, who had been spearheading a three-year overhaul of the business, has stepped down from the board with immediate effect, though he will "remain available to assist the company" as he hands over his duties during the next six months.

Chris Errington, currently non-executive chairman, will take on the role of executive chairman on a part time basis.

The moves come ahead of the publication of a "comprehensive" review of the business, which is expected shortly.

Last September Snoozebox announced widening losses for the first half of the year, having previously been forced to go cap-in-hand to investors to stave off bankruptcy. Ó Murchú said at the time he was focusing on events and longer-term occupancy, as well as expanding into new sectors.

Snoozebox’s founder, the hotel veteran Robert Breare, died in July 2013, just months after the profit warning and stepping down as chief executive.

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