East Midlands hotel group in administration owes £600,000
Abbot Grange, an East Midlands-based hotel group that went into administration last month, owes creditors £637,394.
Administrators Matthew Ingram and Sarah Bell of Duff & Phelps were appointed to oversee the company, which owns the 15-bedroom Bridge hotel (pictured) in Thrapston, Northamptonshire, and the Grade II-listed Dovecliff Hall in Stretton, Staffordshire.
The company owes £72,545 to HMRC, as well as £60,247 to employees in unsecured loans and £72,500 in loans. Debt to trade creditors is to the tune of £111,188, while wedding booking deposits amount to £190,498.
Both hotels continue to trade normally, and it is the intention of the administrators that they will continue to do so until a sale can be completed. Employees have been notified of the joint administrators' appointment and advised it is business as normal until a buyer can be found.
Ingram said: "Under our management Abbot Grange has continued to trade in line with our strategy. Dovecliff Hall hotel has continued to host a number of weddings that were booked prior to our appointment and will continue to do so with a busy schedule over the coming weeks. From the outset of my appointment, I have been confident that a purchaser would be found for the hotel and I am delighted that this has been reflected with a very high level of interest. I expect to be able to report positively in this regard over the coming weeks."
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