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.
A highly successful tour operator and travel agency trading for over 40 years. Offers bespoke travel and tourism packages for the benefit of private, corporate and commercial clients. Specialises in travel to Latin America and the Middle East. A full...
LEASEHOLD
Design, manufacture and retail of own brand tents, awnings and accessories. Full range of products from small hiking and touring tents to large family tents.
RELOCATABLE
This is a fantastic opportunity to purchase an extremely popular online raffle business. Excellent reputation. Friendly, professional team. Huge growth opportunity. Fully relocatable.
LEASEHOLD
20
|
Jan
|
Modulaire Group extends UK presence with Carter acquisition | BUSINESS SALE
Modular space leasing business Modulaire Group has announced...
19
|
Jan
|
Injection moulding business sold out of administration to employees | BUSINESS SALE
Conwy-based injection moulding company A2B Plastics Limited ...
18
|
Jan
|
AFH Financial Group ready to return to acquisition trail in 2021 | BUSINESS NEWS
In its yearly report to October 2020, wealth manager and adv...
Sign up to receive our acquisition alert emails to get your FREE guide
13
|
Jan
|
Heat transfer equipment manufacturer falls into administration | ADMINISTRATION
Coventry-based Covrad Heat Transfer has fallen into administ...
07
|
Dec
|
MBO proposed for EWM retailer Peacocks | MBO/MBI
A management buyout (MBO) bid has been submitted for Edinbur...
24
|
Nov
|
Manchester construction group calls in administrators | ADMINISTRATION
Manchester-based construction firm Goodwin’s Construct...
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