Grantham’s Olde Barn Hotel enters administration

Thu, 05 Sep 2019 | ADMINISTRATION



A very highly rated hotel in Lincolnshire has fallen into administration after experiencing financial difficulties and “cashflow pressures”.

The Olde Barn Hotel, located in Marston near Grantham, was forced to call in RSM Restructuring Advisory LLP to handle the administration process, with partners Diana Frangou and Adrian Allen appointed as joint administrators.

Administrators were called in on 27 August 2019 for the New Barn Hotel Limited, which presently trades as The Olde Barn Hotel. The business employs roughly 100 people, and will use the support of the existing management team to continue trading operations through the administration period.

The hotel boasts 103 bedrooms, a restaurant and bar that has received top reviews from previous customers, a leisure club, and function facilities to host weddings and conferences.

Commercial real estate services firm, Avison Young, has been appointed to market the sale of the hotel.

Frangou, one of the joint administrators, said: “Due to cashflow pressures, the directors took the reluctant decision to place the company into administration.

“The joint administrators’ intended strategy, with the ongoing support of the existing management and staff, is for the hotel to continue to trade whilst we market it for sale as a going concern. We expect that there will be a lot of interest from potential buyers.

“Interested parties, who would like to talk about purchasing the hotel, should contact the appointed agent James Williamson of Avison Young.”

Click here to view the New Barn Hotel Limited listing for full details.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Festival Operator Business
Essex, South East, UK

An excellent opportunity exists to purchase the business and assets of a well-established festival business that has built up a successful annual festival in the South East of England. Offers invited.

Asking Price: £100,000
Turnover: £5,000,000

LEASEHOLD


Group of Travel Agents
North East, UK

Retailers of consolidated scheduled air fares to the general public business clients & other travel agencies. Complementing its air fare sales the company also offers tailor-made holiday itineraries package holidays accommodation care hire & insuranc...

Asking Price: Offers Invited
Turnover: £638,000

Shooting Sport Design & Manufacturer
West Midlands, UK

Designer developer & manufacturer of a laser clay pigeon shooting sport sold to a worldwide customer base & utilised by leisure centres corporate event companies & private individuals. Can be operated both outdoors & indoors as a competitive sport or...

Asking Price: Offers Invited
Turnover: £700,000


View more businesses for sale

News Search

Latest News

 
10
 
Jul
 

Mobile phone supplier and recycler goes into administration | ADMINISTRATION

Mobile phone refurbishment company Redeem UK has gone into a...

 
09
 
Jul
 

John Lewis to close eight stores as COVID-19 accelerates shift to online | BUSINESS NEWS

Department store chain John Lewis has said that eight of its...

 
09
 
Jul
 

Chancellor cuts VAT on hospitality as part of £30 billion rescue plan | BUSINESS NEWS

Chancellor Rishi Sunak has announced a £30 billion pla...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
07
 
May
 

Sigma Dynamics purchases Manchester software business out of administration | BUSINESS SALE

Sigma Dynamics has acquired the Dynamics 365 Finance and Ope...

 
03
 
Mar
 

SA Brain to sell 40 pubs | COMMERCIAL PROPERTY

Welsh brewer and pub operator SA Brain & Co has announced th...

 
27
 
May
 

P2P firm Lendy enters administration | ADMINISTRATION

A peer-to-peer (P2P) banking firm has collapsed into adminis...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources