The Olde Barn hotel in Lincolnshire has fallen into administration six years after being sold out of administration.
The three-AA-starred, 103-bedroom hotel in Grantham fell into administration in 2011 and was sold to the Leena Group for around £2m two and a half years later.
However, administrators have been called in once more as the business has suffered from “cashflow pressures”.
Diana Frangou and Adrian Allen of RSM Restructuring Advisory were appointed joint administrators of New Barn hotel, trading as the Olde Barn hotel near Grantham, on 27 August 2019.
The decision to appoint administrators was made by the directors after the business suffered from cashflow pressures. The joint administrators’ intention is to continue to trade the hotel whilst they market the hotel and business for sale as a going concern. Mohamed Dossa is listed as a person with significant control of the business on Companies House and is one of two directors listed.
Frangou said: “Due to cashflow pressures, the directors took the reluctant decision to place the company into administration… We expect that there will be a lot of interest from potential buyers.”