Jobs saved as wedding and meetings venue sold in £3.9m deal

Some 44 jobs have been saved at a Leicestershire meetings and weddings venue after a mystery buyer bought the business out of administration in a £3.9m deal.

The future of Hothorpe Hall looks set to be secured after administrators received huge interest in the venue, with almost 500 offers received.

The new owner, which is unnamed in documents seen by TheBusinessDesk.com, has said it will honour some £1.4m in deposits taken by the previous owners for events which had to be postponed because of Government-imposed social distancing regulations brought in because of the Covid-19 pandemic.

The news comes after a painful year for Hothorpe Hall, which was previously owned by Methodist Guild Holidays. Due to the pandemic, the company had to make 19 staff redundant last October as it reeled from the uncertainty brought on by changing Government regulations. In December, long-standing managing director, Nicola Firth, retired from the business.

All staff, currently furloughed, will be transferred to the new owners.

Yasmin Bhikha and John Lowe from advisory firm FRP were appointed as joint administrators to Methodist Guild Holidays Ltd and Hothorpe Hall Ltd on 14 December 2020.

Yasmin Bhikha, director at FRP and joint administrator, told us at the time: “Like much of the rest of the UK hospitality and leisure sector, Methodist Guild Holidays and Hothorpe Hall have seen their ability to operate severely restricted by the pandemic, which has led to financial difficulties and need for restructuring. The administration provides some protection as we explore options to secure a future for the hotel group. We have launched a marketing process to find investors and are having conversations with interested parties.”