The Bodnant Welsh Food Centre, a multi-feature site dedicated to showcasing the best of the nation's culinary offering, is set to be saved from closure by a local businessman.
In October the business reached out to advisory firm Smith Cooper, after significant investment could not help to balance the books due to difficult trading conditions. A week later it was decided the business would wind down if a buyer could not be found.
However Richard Reynolds, managing director of the tearoom brand Love To Eat which operates in five locations, has offered to take over the site. The sale of the Welsh food centre, which includes a café, a cookery school, a farm shop and B&B accommodation near Conwy, North Wales, is currently underway.
Dean Nelson, head of business recovery and insolvency at Smith Cooper, said that despite "best efforts and considerable investment" from the owners, the site "was operating in an unsustainable manner".
He added: "We have undertaken an intense sales process for a month and we are delighted to have found a potential buyer for the business and its assets. Our hope is that a sale can be concluded shortly and that the Bodnant Welsh Food Centre will continue to provide the local community and visitors with a first-class food centre."
The sale will ensure planned and future weddings continue without disruption.
Reynolds added: "I am delighted and honoured to be close to securing the ownership of the Bodnant Welsh Food Centre and will be working hard to ensure its future success. I strongly believe that the excellent location, award-winning produce and strong reputation will enable the Bodnant Welsh Food Centre to continue to thrive and grow for many years to come.
"I am also extremely pleased to announce that once the sale is concluded, after what was a distressing time for many couples, that we are looking to honour any weddings which have been booked, whilst also taking into consideration deposits which have already been paid. We look forward to welcoming the couples and their guests through our doors."