Thu, 21 Feb 2019 | ADMINISTRATION
A historic but well-preserved hotel located on the banks of Lake Windermere has fallen into administration after experiencing a series of financial issues.
The Hydro Hotel, which was established in 1895, has been forced to call in professional services firm FRP Advisory LLP to handle the administration, and have appointed partners Phil Pierce and Paul Whitwam as joint administrators to oversee the process.
The administrators as presently on the hunt for a buyer to claim new ownership of the property and business.
Pierce commented on the administration: “The Hydro Hotel is a beautiful building that is situated in one of the most stunning locations in Britain. The business has huge potential and our focus is now on working with the directors to secure a sale of the hotel and ensure the best possible outcome for everyone involved.”
In the meantime, however, the hotel will remain operational and will continue to trade, with all 32 employees retained until a new buyer is sought.
The Hydro Hotel boasts 78 bedrooms with ensuite facilities, an adjoining restaurant and bar, as well as a conference and meeting rooms for more corporate events. The property also stars a ballroom with a capacity of 150 guests.
The venue reopened its doors in 2017 after a multimillion-pound renovation project had been completed, but was the cause of severe cashflow struggles which forced the business into administration.
Although the joint administrators are already in advanced talks with a handful of interested parties, they are inviting offers from potential buyers with the aim of settling on a sale in the near future.
Click here to view The Hydro Hotel Limited listing for full details.
For more news stories about administrations click here. For all our administrations listings, click here.
Situated in the heart of Ilkley town centre just off the busy Brook Street. The yard is a stylish bar offering a wide range of drinks, good, quality food, music with varied DJ’s and live artists all encompassed in an interesting layout. Offers invite...
FREEHOLD
This is the finest business operating within the beauty industry. A truly exceptional and unique opportunity to acquire a highly successful aesthetics and beauty clinic, occupying an affluent market town trading position. Offers invited.
LEASEHOLD
An opportunity to acquire this lucrative spacious children’s play centre situated in the heart of a busy West Yorkshire town and with easy parking. The business is worked in easy hours over seven days. Offers invited.
LEASEHOLD
|
26
|
|
Mar
|
Craft beer company goes under | ADMINISTRATION
With stores in London, Canterbury and Margate, craft beer me...
|
25
|
|
Mar
|
West Midlands transport company enters administration | ADMINISTRATION
The company behind the Ring and Ride services throughout the...
|
22
|
|
Mar
|
Scunthorpe nightclub up for sale | BUSINESS SALE
A former nightclub based in Scunthorpe has been put up for s...
Sign up to receive our acquisition alert emails to get your FREE guide
|
05
|
|
Mar
|
Independent bathroom retailer enters administration | ADMINISTRATION
Thought to be the UK’s largest independent bathroom re...
|
20
|
|
Jul
|
Law firm appoints administrators following financial collapse | ADMINISTRATION
A north west law firm has been placed in administration foll...
|
16
|
|
Jul
|
Farming co-operative collapses into administration | ADMINISTRATION
Angus Cereals Limited, a farming co-operative with farmers a...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources