Shendish Manor in Hertfordshire has been rescued from administration after it was sold to a local hotel owner.
The company behind the country house hotel and golf course, in Apsley, Hemel Hempstead, was placed into administration in May after the property was hit by falling demand.
The administrator, KPMG Restructuring, continued to trade the hotel and tasked property agent Savills with finding a buyer.
KPMG today announced that the business and assets of Shendish Manor have been sold to Planned Holding, operator of the Manor of Groves hotel in East Hertfordshire, which includes a golf club and country club. However, around 20 staff have been let go following the purchase.
David Crawshaw, joint administrator and partner at KPMG said: "We are delighted to announce that Shendish Manor has been sold to local hotel owner, Manor of Groves.
"Trading has not been easy in these difficult times but I'm pleased that the quality of the hotel's service has been maintained, occupancy rates have increased and that we were able to honour all deposits and wedding bookings.
"I'd like to take this opportunity to thank the customers and suppliers for their ongoing support in this difficult time which has helped to ensure that this historic site will continue for many years to come," he added.
The acquisition comes just a day after Von Essen announced that it had bought the Forbury hotel in Reading from administration for a sum believed to be in the region of £10m.
By Daniel Thomas
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