Creditors approve deal to save Royal Hotel from closing down

Creditors have voted to support a rescue deal worth 850 thousand dollars to save the well-known Royal Hotel from being liquidated. The financial agreement stops the historic venue from shutting down completely. The business faced severe money trouble before this rescue plan got the green light from the people it owes money to. The injection of funds will help clear debts and let the hotel keep its doors open to the public. Management can now look forward to running the venue without the immediate threat of closure hanging over them.