Following Kilgour and Anstead's departure, Four Seasons passed through multiple owners. Alchemy sold to Allianz Capital Partners in 2004, which then transferred ownership to Qatari investors in 2006. During the 2008 financial crisis, the company's debt reached approximately £1.56 billion. When Qatari owners failed to secure refinancing, creditors including Royal Bank of Scotland assumed control. Critics described financial structures that extracted equity while accumulating debt, comparing the process to irresponsible financial games with elderly lives.
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