Wed, 17 Dec 2014 | BUSINESS SALE
The future of the Chilworth Manor Hotel and Spa has been secured after it was sold to a new owner.
The historic Hampshire hotel was listed by estate agents Christie & Co in November with administration looming for the business. However, independent hotel owner Frank Truman Ltd intervened and saved both the business from going under and the jobs of more than 70 members of staff in the process.
The Daily Echo reported that the deal came “minutes” before Chilworth Manor Ltd would have gone into administration. The hotel’s parent company, La Ruche Holding Ltd, did still fall into administration though.
Neil Gostelow and Jane Moriarty from KPMG have been appointed as joint administrators to La Ruche Holding.
Mr Gostelow commented on the last-minute deal for the Hampshire hotel: “As a result of the sale of La Ruche Holding Ltd’s shares in the Chilworth Manor Hotel and Spa, the administrators were able to find a solvent solution for the hotel which has avoided any disruption at a trading level.
“This deal represents the best value not only for customers to the hotel and spa but the trade creditors who did not suffer any losses … The hotel and spa is now on a stable footing both financially and operationally.”
Legacy Hotels and Resorts will now manage Chilworth Manor, with the firm’s chief executive Andy Townsend revealing that there are refurbishments planned for the new acquisition.
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This substantial 43-bedroom urban hotel, situated just 5 miles from Newcastle city centre, offers an exceptional investment opportunity with its prime trading location and extensive public areas, including a popular bar and refurbished function room.
FREEHOLD
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