Lakeside hotel enters administration

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.


Share this article



Latest Businesses for Sale

Events/Entertainment Franchise
Buckinghamshire, UK Wide

Fantastic opportunity to secure a Franchising Event business, ready for a second half of 2020 relaunch. Ready for an extremely successful 2021, with many dates already pre-booked, new franchising opportunities & established licence agreement ready fo...

Asking Price: £695,995
Turnover: £333,000

Public House & Restaurant
Fort Augustus, Inverness Shire, Scotland, UK

The business currently operates all year round. The business is run & managed by the current owners with a selection of part time staff in the restaurant & public bar. The business has built up an enviable reputation not just locally but within the i...

Asking Price: £349,950
Turnover: £700,000

LEASEHOLD


Tour Operator
Sandhurst, Berkshire, UK Wide

Excellent relationships with Tunisian transport operators. Registration Domain names included. Bespoke Holidays – choice of luxury hotels, villa’s & apartments in 16 locations with historical tours, magical desert locations. Other activities include...

Asking Price: £99,950
Turnover: £766,551

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
07
 
Aug
 

Wrexham-based wire firm falls into administration | ADMINISTRATION

Wire manufacturer Wrexham Wire has fallen into administratio...

 
06
 
Aug
 

Leading UK tour operator Ski Weekends enters administration | ADMINISTRATION

One of the UK’s leading ski tour operators Harris Holi...

 
05
 
Aug
 

Pizza Express puts itself up for sale and looks to close 67 outlets | BUSINESS SALE

Pizza Express has announced that it is seeking a buyer for i...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
22
 
Aug
 

Welsh technology firm plunges into administration | ADMINISTRATION

Thought to be one of the country’s leading ICT supplie...

 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

 
10
 
Jun
 

Historic Hull electrical engineering firm enters administration | ADMINISTRATION

An electrical engineering company, founded by William Shuttl...

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