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.
A highly regarded independent travel agency offering a diverse range of quality travel experiences, including tailor-made packages, to customers throughout the UK.
LEASEHOLD
Unique business model operating through four integrated divisions across the UK and internationally. Market-leading brands which are recognised across the sector and are driven by a strong digital marketing strategy.
LEASEHOLD
Specialises in the provision of friendly and professional swimming classes for babies, toddlers and young children. Currently offers its services to circa 1,600 active clients, 90% of whom provide reliable, repeat business. Has a waiting list of over...
LEASEHOLD
|
18
|
|
Jun
|
Hull transport business bought out of administration | BUSINESS SALE
Transport operator Clugston Distribution Services has bought...
|
18
|
|
Jun
|
Kingswood Holdings make £4m acquisition and targets extensive pipeline of deals | BUSINESS SALE
UK-based wealth management firm Kingswood Holdings has struc...
|
17
|
|
Jun
|
Four Communications acquires creative agency in ninth BGF-backed takeover | BUSINESS SALE
Marketing services firm Four Communications Group has acquir...
Sign up to receive our acquisition alert emails to get your FREE guide
|
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...
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