Mon, 24 May 2021 | ADMINISTRATION
Bellhill Limited, the company that owns and operates Glasgow's Lorne Hotel, has announced that it has collapsed into administration.
The firm has revealed that it has appointed joint administrators Blair Nimmo and Alistair McAlinden from advisory firm Interpath Advisory to manage the process.
In a newly released statement, the administrators stated that the renowned business originally ran into financial troubles in March 2020 when COVID-19 restrictions first came into force.
The statement added that steps had been taken by the company to reduce hotel costs and manage the business' cash flow as the pandemic continued. However, it added that an "adverse legal finding" against the company in May reportedly left the director with “no other option than to place the company into administration.”
The administrators have stated that they are now seeking a buyer for the hotel, which is based in the west end of Glasgow. As well as being a renowned hotel in its own right, it also includes award-winning Indian restaurant Bukharah and the Bilberry cocktail bar. In addition, Lorne Hotel offers extensive conference facilities and a function suite that boasts a capacity of 170 people.
Commenting on the announcement, Mr Nimmo, chief executive of Interpath, said: "The impact of the pandemic and resulting lockdown on companies across the Scottish leisure and hospitality sector has been profound."
Alistair McAlinden, head of the hospitality and leisure sector team for Interpath Advisory in Scotland, added: "We will be looking for a purchaser for the Lorne Hotel and its assets. Ideally situated in the west end of Glasgow and close to the city centre and its attractions, including the Hydro and the Scottish Exhibition Campus, this is an opportunity for a purchaser to acquire an asset with significant potential."
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