Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Hotel chain Suite Hospitality enters administration

Hotel chain Suite Hospitality enters administration

Thu, 18 Jun 2020 | ADMINISTRATION



Suite Hospitality, which operates hotels in Exeter, Windsor and Belper, has entered administration after negotiations with landlords and creditors stalled. Ian Walker and Julie Palmer of Begbies Traynor Group plc have been appointed as administrators by company directors.

The company operates three hotels, the Buckerell Lodge Hotel in Exeter, the Harte and Garter Hotel in Windsor and the Makeney Hall Hotel in Belper in the Peak District. All are operated under leases. It employs 110 staff, most of whom are currently under furlough.

Exeter’s Buckerell Lodge Hotel is described as “an elegant building set within historic tree lined gardens and grounds and yet just one mile from the heart of Exeter” and "an ideal venue for a wide range of events and formal receptions, for business or for pleasure".

According to the administrators, Suite Hospitality suffered a disappointing 2019 and had been in talks with its major creditors and landlords as it sought to safeguard the future of the business. However, two of its larger landlords could not agree terms, leading to the decision to appoint administrators.

Joint administrator Ian Walker said: “We are working very hard to transfer the business to new owners and preserve as many jobs as possible at the three hotels, including Exeter’s Buckerell Lodge.” Administrators have requested that any customers who have paid deposits to Suite Hospitality for future events make contact with them.

In a statement, the company said: "Until such time that we have considered all available options for the Business, we will not be taking any further bookings across any of the Group’s Hotels in Windsor, Belper & Exeter. Any future bookings for rooms, weddings or other events are suspended until further notice."

In its accounts filed to the year ending December 30 2018, Suite Hospitality reported turnover of £7.7 million from continuing operations, with gross profit of £3.7 million and an operating loss of £105,851. Its fixed assets at the time of filing were valued at around £2.4 million, with current assets at £772,736 and creditors of £2.6 million.


View the latest distressed UK businesses here.


Share this article



Latest Businesses for Sale

Award-winning Design & Sourcing Company
UK Wide

Sources and supplies women’s tops, trousers, dresses and knitwear, as well as fashion products for girls aged between three and 15, to well-known fashion retailers throughout the UK and internationally.

Asking Price: Offers Invited
Turnover: £5,700,000

LEASEHOLD


E-commerce Company Providing Outdoor Heating Solutions
UK Wide

Offers an extensive range of branded garden heaters and outdoor patio heaters for commercial and residential clients. Rated as “Excellent” by Trustpilot.

Asking Price: Offers Invited
Turnover: £5,000,000

LEASEHOLD


E-Boutique Offering Affordable Clothing
UK Wide

Offers a wide range of fashionable, chic and affordable clothing items for customers throughout the UK and internationally. Retails its products in sizes 8 to 32, maintaining its price point across the range.

Asking Price: Offers Invited
Turnover: £1,500,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
03
 
Mar
 

Fazenda restaurant group acquired from administrators in pre-pack deal | BUSINESS SALE

The Yorkshire-based Fazenda restaurant chain has been acquir...

 
02
 
Mar
 

Recruitment consultancy On-Site Group acquires financial services firm | BUSINESS SALE

Specialist recruitment consultancy On-Site Group has complet...

 
02
 
Mar
 

Accenture makes third UK acquisition of 2021 with Cirrus takeover | BUSINESS SALE

Professional services firm Accenture has completed its third...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
03
 
Mar
 

Fazenda restaurant group acquired from administrators in pre-pack deal | BUSINESS SALE

The Yorkshire-based Fazenda restaurant chain has been acquir...

 
27
 
Apr
 

Lincs Lifts seeks buyer after appointing administrators | ADMINISTRATION

Scunthorpe-based powered access hire business Lincs Lifts is...

 
03
 
Apr
 

Benito’s Hat to continue trading despite entering administration | ADMINISTRATION

Fast-casual Mexican food chain Benito’s Hat has entere...

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

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.