Tue, 22 Jan 2013 | ADMINISTRATION
A for sale sign has been hoisted up for the historic Watermill Hotel in Paisley, Renfrewshire, after it called in administrators recently.
The 17th Century hotel was placed into administration after being unable to cope with its debts. The administrators at Begbies Traynor have called in Colliers International to sell the hotel, which has 34 staff.
The three-star Watermill Hotel has 49 bedrooms, a restaurant, bar, conference and wedding facilities. It is to continue trading while a buyer is sought.
The property, which is located by the Hamills waterfall on the banks of the White Carter Water, has been subject to substantial refurbishment over the last few years, with the addition of a new function suite.
“We have been able to continue to trade the Watermill Hotel for the present time, and as far as bookings, staff and customers are concerned it is business as usual,” said joint administrator Paul Dounis.
“We are actively marketing the hotel as a going concern and we are optimistic that a buyer can be found for this as an investment either by an individual or a larger chain of hotels.”
He went on to explain that the adverse effects of the recession on trading has meant that cash flow could not cover the costs of servicing its debts and its other bills.
This is a rare opportunity to acquire a leading food manufacturer specialising in South East and East Asian cuisine, with a strong foothold in the UK and European markets, supported by robust supply chains and long-standing customer relationships.
This business opportunity offers a well-established company in South East England that specialises in high-quality insulation and renewable solutions, operating across diverse sectors and supported by strong client relationships and a dedicated manag...
An established specialist provider of air conditioning, EV charging, heating solutions, and solar panels is available for acquisition, offering a comprehensive service package and robust customer base across the UK.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.