Thu, 25 Aug 2011 | BUSINESS SALE
A buyer is being sought for The Best Western Mount Sorrel hotel in Barry, south Wales, following its administration.
Handling the sale of the three-star, 42-bedroom hotel are administrators Smith & Williamson, who are looking to sell it on as a going concern.
The recently refurbished hotel comprises a large bar, three function rooms seating up to 240 guests, a 45-seater restaurant, indoor swimming pool and well-equipped gym. The hotel is independently managed and currently employs 31 staff members.
Turnaround and restructuring specialist at Smith & Williamson, Gil Lemon, told Catering Search, “We have been appointed by the directors of Martin Willcock, which trades as Best Western Mount Sorrel hotel, to try to sell the hotel as a going concern after it hit severe cash pressures.
“We are extremely optimistic about achieving a sale for this established hotel, which ... comes under the respected Best Western brand but is independently managed, and several parties have come forward to express an interest in purchasing the business since we were appointed administrators,” added Lemon.
The hotel - reportedly the largest in Barry - is currently continuing to trade as normal until a buyer is found.
Highly profitable and long established retailer with turnover of £10m. Scalable business model with detailed growth expansion plan.
LEASEHOLD
Children's Day Nursery located in Essex. Leasehold opportunity. Good Ofsted rating. Established for 4 years in a highly sought-after residential area.
LEASEHOLD
Provides a comprehensive range of M&E installation services, including design of electrical data security, plumbing, heating, ventilation, air conditioning (HVAC) systems, fire alarms and maintenance.
LEASEHOLD
|
30
|
|
Jul
|
UK insolvencies rise 31 per cent in Q2 | BUSINESS NEWS
According to figures from The Insolvency Service, company in...
|
30
|
|
Jul
|
Newcastle-based construction firm enters administration | ADMINISTRATION
Newcastle-based contractor Kapex Construction Limited has en...
|
29
|
|
Jul
|
Embark Group acquired by Lloyds at 11.6x revenue | BUSINESS SALE
Savings and pensions provider Embark Group has been acquired...
Sign up to receive our acquisition alert emails to get your FREE guide
|
30
|
|
Jul
|
Newcastle-based construction firm enters administration | ADMINISTRATION
Newcastle-based contractor Kapex Construction Limited has en...
|
30
|
|
Jul
|
UK insolvencies rise 31 per cent in Q2 | BUSINESS NEWS
According to figures from The Insolvency Service, company in...
|
29
|
|
Jul
|
Embark Group acquired by Lloyds at 11.6x revenue | BUSINESS SALE
Savings and pensions provider Embark Group has been acquired...
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