Owner of Cwrt Bleddyn Hotel & Spa in administration

01 August 2012 by
Owner of Cwrt Bleddyn Hotel & Spa in administration

The owner of the Cwrt Bleddyn Hotel & Spa, a 45-bed property in Usk, Monmouth, Wales, has gone into administration.

The Best Western hotel's parent company, Lester Hotels (Usk), called in administrators on 24 July after struggling with high debt levels.

The hotel, which employs 50 staff, is understood to be trading as normal.

Restructuring firm Zolfo Cooper, which is handling the administration, is expected to sell the business as a going concern.

Fraser Gray, partner at Zolfo Cooper, said: "Unfortunately the hotel was acquired shortly prior to the downturn in the economy and, as a result, the recent economic conditions have led to increased financial pressures on the company. Consequently administration was the only viable option remaining.

"We will continue to trade the business while exploring all possible options for its future, including a sale of the business. We believe the Cwrt Bleddyn Hotel & Spa is an attractive proposition for a range of potential buyers and welcome expressions of interest from third parties.

"The hotel continues to trade as normal and the joint administrators intend to honour all current bookings. We would also like to take this opportunity to thank the staff for their dedication and professionalism during this process."

By Neil Gerrard

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