103-bedroom hotel enters administration

A 103-bedroom hotel in Lincolnshire has entered administration.

The Olde Barn Hotel in Marston, near Grantham, has called in Diana Frangou and Adrian Allen of RSM Restructuring Advisory as joint administrators to try and sell the company.

The hotel also has a leisure club, restaurant and function facilities.

The decision to appoint administrators was made by the directors of New Barn Hotel Limited after the business suffered from cashflow pressures.

Frangou said: “Due to cashflow pressures, the directors took the reluctant decision to place the company into administration.

“The Joint Administrators’ intended strategy, with the ongoing support of the existing management and staff, is for the hotel to continue to trade whilst we market it for sale as a going concern. We expect that there will be a lot of interest from potential buyers.”