Wed, 02 Feb 2011 | BUSINESS SALE
An Ipswich hotel has been acquired by new owners following the administration of former owner, Elizabeth Hotels.
The three-star Copdock Hotel is the 10th hotel from the Elizabeth Hotels portfolio to be bought out of administration. The 76-bedroom freehold hotel has been acquired by Cheshire-based former care home owners Steve and Jane Denton for around £2.5 million.
Just one hotel out of the 11 hotels located across Essex and East Anglia formerly operated by Elizabeth Hotels has yet to be sold. The Needham Market, Suffolk-based Limes Hotel, which boasts 11 bedrooms, is currently on the market through Colliers International.
Accountancy firm KPMG was called in to act as administrators following Elizabeth Hotels' demise in December 2009. KMPG immediately set about seeking a buyer for the business, which at that time operated 13 pubs and 14 mid-market inns and hotels. The group managed and operated 11 of the hotels with the other hotels and pubs leased out to third parties.
At the time of the administration, KPMG's Allan Graham said, "The company’s financial liabilities made it impossible to continue running the businesses as they stood."
The new owners of the Copdock Hotel plan to refurbish it extensively over the next few months. Ms Denton said, "We believe the hotel will return to its rightful place being one of the pre-eminent hotels in the Ipswich area."
Once a thriving online garden centre started in 2018, after an internal dispute the business stopped trading in 2022. In a space of just 3 years the business achieved £500k in turnover. This is a perfect opportunity for someone looking for a new...
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
25
|
Apr
|
New private equity owner for fleet hire firm | BUSINESS SALE
West Lancashire-based fleet hire business NRG Riverside has ...
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
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.