New owners of weddings venue revealed as 36 jobs saved

The new owners of a Leicestershire wedding and conferences venue have been revealed after the business was sold out of administration in a £3.55m deal.

As we revealed last month, the joint administrators of Hothorpe Hall have completed the sale of the company’s business and assets in a deal that secures 36 jobs.

The business, which is based near Theddingworth, Leicestershire, has been sold for a cash consideration of £3.55m to a new company Hothorpe Hall (Venues) Limited, part of the KCT Group. The deal follows a marketing process conducted by Yasmin Bhikha and John Lowe, partners at business advisory firm FRP, following their appointment as joint administrators on 14 December 2020.

All 36 staff will TUPE transfer to the buyer as part of the transaction, which will honour all existing wedding bookings.

Bhikha said: “The reopening of the UK economy after lockdown couldn’t come soon enough for venues like Hothorpe Hall, which have been hard hit by the pandemic. Now, armed with fresh investment and a new ownership team, the venue is gearing up to open its doors once again and welcome guests. We’re thrilled for all the team and its returning staff and wish them all the best.”

Savills acted as agent for the joint administrators.