Thu, 07 Jan 2021 | ADMINISTRATION
Country house hotel Hothorpe Hall in Theddingworth, south Leicestershire, is seeking investors after falling into administration as a result of the COVID-19 pandemic. Yasmin Bhikha and John Lowe of FRP Advisory have been appointed as joint administrators.
Hothorpe Hall is a 220-year-old Georgian manor with 55 bedrooms. It is a popular venue for weddings and entertainment, but has faced several periods of prolonged closure during the pandemic.
The joint administrators said the business had “suffered sustained cashflow difficulties since the start of the pandemic”. Prior to the current lockdown, the hotel had been forced to close due to Leicestershire being placed in Tier 3.
The administrators have said they will seek to honour the hotel’s existing events bookings, as far as COVID-19 restrictions will permit, while a buyer is sought. All of the hotels 30 employees are currently furloughed, with some likely to be recalled to assist in the administration.
Joint administrator Yasmin Bhikha said: Like much of the rest of the UK hospitality and leisure sector, Hothorpe Hall has seen their ability to operate severely restricted by the pandemic, which has led to financial difficulties and need for restructuring.”
“The administration provides some protection as we explore options to secure a future for the hotel group. We have launched a marketing process to find investors and are having conversations with interested parties.”
Hothorpe Hall is a wholly-owned subsidiary of Methodist Guild Hotels Ltd. The parent company has also appointed administrators for another subsidiary, Methodist Guild Holidays Ltd, which operates three other hotels around the UK.
View the latest distressed UK businesses here.
Offering high quality marquees with a wide range of sizes. This offers a huge amount of flexibility which allows the company to cater for whatever customers require, from a small marquee in the back garden, to a marquee village, or perhaps catering f...
LEASEHOLD
Highly reputable independent music production and supervision company providing end-to-end solutions across various applications including music supervision music licensing original score recording composer representation and an internal music librar...
Independent tour operator specialising in overseas travel and trips for various recreational events. Holding an ATOL licence with the Civilian Aviation Authority the company provides independent and cost-effective alternatives to official trips and h...
|
30
|
|
Nov
|
Chartered accountancy firm secures loan for acquisitive growth | BUSINESS NEWS
Chartered accountancy and business advisory firm Cottons Gro...
|
29
|
|
Nov
|
Water and environmental firm acquired at nearly 14x profits | BUSINESS SALE
Enisca, a multi-disciplinary engineering firm operating in t...
|
28
|
|
Nov
|
Optimo Care Group continues acquisitive expansion | BUSINESS SALE
Care provider Optimo Care Group has continued its expansion ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
07
|
|
Oct
|
Cleveland Bridge assets to go to auction next month | COMMERCIAL PROPERTY
It has been confirmed that an auction of the property and as...
|
10
|
|
Sep
|
Cleveland Bridge property and assets to head to auction as search for a buyer fails | ADMINISTRATION
Administrators for structural engineering firm Cleveland Bri...
|
08
|
|
Sep
|
Assets for sale as Scottish wind turbine firm enters administration | ADMINISTRATION
Scottish wind turbine manufacturer CS Wind (UK) has fallen i...
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