Might be the last call for NLG - although they announced a...

Might be the last call for NLG - although they announced a reduced profit figure due to inability to proceed with their refurbishments at the expected pace not total failure.

I'm guessing someone will come in and take a stake, maybe Tom Hedley or Ron Briely?

NLG is only a tenant of HLG, even if they fell over it's hard to see how you can draw the conclusion that this will be a disaster for HLG. They will retain the properties and the leases.