FAQ's on behalf of Shell 21.02.19
- Why has Shell decided to sell The Lensbury? Shell reviews its portfolio on an ongoing basis. The Lensbury is a successful business and Shell believes it has the greatest potential for further growth and development under new ownership. We aim to sell The Lensbury as an ongoing business.
- Who will Shell sell The Lensbury to? Shell is looking at a shortlist of companies with existing interests in the leisure and hotel sector.
- Is the status quo a potential outcome? No – that is unlikely to be an option. Currently, there is a high probability the site will be sold but it remains “business as usual”.
- What does this mean for my membership? Right now it doesn’t mean anything. We recognise that this is a period of uncertainty, however, this is a process that has just started. It remains business as usual.
- I have just taken out membership. In the light of today’s news, can I get a refund? We understand that this is a period of uncertainty, however, it remains business as usual for all at The Lensbury. We hope all members will continue with us and would encourage all members to await the outcome of the process before taking any action, as we will be in a better position to advise members when we know the identity and intentions of the new owner. The potential new owners all operate within the leisure and hospitality sector and recognise the value of The Lensbury as a premium leisure club.
- Who are the interested parties? The potential new owners all operate within the leisure and hospitality sector. Shell does not comment on commercially sensitive matters beyond this.
- Why were the members not consulted? There has been nothing to consult on as this is a Shell-led process and is considered commercially sensitive. The Lensbury management were told last year under strict non-disclosure and confidentiality agreements in order to support the process. The Lensbury staff have been informed at the same time as you.
- Do members have an opportunity to purchase The Lensbury? No. Shell are already talking to interested parties who all operate in the leisure and hospitality sector.
- Will the club remain open for new memberships? The club continues to remain open to new members, although future policy will be a matter for the new owner. Potential new owners all operate within the leisure and hospitality sector and recognise the value of The Lensbury as a premium leisure club.
- What will be the practical impact for employees? It remains very much business as usual at The Lensbury and there is no immediate impact for employees. We are selling the business as a going concern, and all jobs and contracts will remain as they are today until completion of the sale. We will be in a better position to advise members when we know the identity and intentions of the new owner.
- I have recently learned The Lensbury was already sold during December 2018, please explain? “The information lodged in the Land Registry confirms that Lensbury Ltd bought the freehold site which we previously leased from another Shell Company. This process has now created a single operating entity at The Lensbury which includes the land, buildings and operating business. The letter all members received is correct in every detail, please bear with us as discussions continue with potential new owners.”
Recognising that you may have queries or concerns, Shell have set up a dedicated enquiries desk that can be reached at: [email protected]