Management team saves Skipton hotel from administration

12 August 2010 by
Management team saves Skipton hotel from administration

A boutique hotel in Skipton has been saved from administration after the existing management team bought the business.

Four@25, the company that formerly owned Boutique 25 hotel ]( Skipton, went into administraiton on 30 July after several months of difficult training.

Charles Brook and Peter Sargent of Begbies Traynor were appointed joint administrators of the business and the hotel was marketed as a going concern.

The hotel had undergone a substantial refurbishment in 2009 but the levels of income since then had made it difficult to avoid accumulating losses that the current owners could not continue to support.

The administrators were unable to find an external buter but the management team managed to raise enough finance to buy the hotel, with help from a close relative.

Charles Brook, partner at Begbies Traynor, in Halifax said: "The hotel is very much ‘open for business' and its highly committed team of management and staff is looking forward to a brighter future with the renewed vigour that the new investment has provided."

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By Neil Gerrard

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